India Cements sells investment in Indonesian associate

India Cements announced the sale of its investment in PT Mitra Setia Tanah Bumbu, an Indonesian associate company, through its wholly-owned subsidiary, PT Adcoal Energindo. A Share Sale and Purchase Agreement has been executed, leading to PT Mitra Setia Tanah Bumbu ceasing to be an associate upon completion of the sale. The agreement was signed on July 3, 2025, with completion expected within six months. As of December 31, 2024, PT Mitra Setia Tanah Bumbu contributed INR93.23 Crore to India Cements' turnover and INR80.74 Crore to its net worth, representing 1.46% of the company's overall net worth. The proposed sale consideration is IDR2,695,000,000. The buyers are Indonesian citizens Mr. Finsa Noorcahyo F and Mr. Hari Sutikno, who are not related parties. The transaction is not part of any Scheme of Arrangement.