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India Cements to sell Industrial Chemicals to Mirai for 98 crore

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CHENNAI: India Cements is selling its subsidiary Industrial Chemicals and Monomers (ICML) to Mirai Sensing for Rs 97.7 crore. The company will enter into an agreement with Chennai-based Mirai Sensing and complete the sale within six months from the date of agreement, India Cements informed the stock exchange. India Cements board at its meeting, on Saturday, approved the sale of its entire equity investment held in ICML. After completion of the sale, ICML would cease to be its subsidiary, the regulatory filing added.

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