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IL&FS Financial Services Ltd did not have any stake in the cement company prior to the acquisition.
IL&FS Financial Services Ltd did not have any stake in the cement company prior to the acquisition.

IL&FS Financial Services acquires 17.25% stake in Sagar Cement

In a filing to the BSE, Sagar Cements said IL&FS Financial Services acquired 30 lakh pledged shares

New Delhi: IL&FS Financial Services Ltd has acquired 17.25% stake in Sagar Cements Ltd following acquisition of 30 lakh pledged shares of the cement company. In a filing to the BSE, Sagar Cements said IL&FS Financial Services acquired 30 lakh pledged shares, representing 17.25% of total shareholding of the company, on 24 August. IL&FS Financial Services Ltd did not have any stake in the cement company prior to the acquisition.

Sagar Cements has a plant in Nalgonda district of Andhra Pradesh. The company manufactures various varieties of cement like Portland Pozzalona Cement and Sulphate Resistant Cement. Shares of Sagar Cements closed up by 1.30% at 373.60 on the BSE on Wednesday.

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