Anjani Portland Cement Limited (BSE:518091) entered into a Share Purchase Agreement to acquire a controlling stake in Bhavya Cements Limited from its promoters on May 26, 2021. The consideration shall be paid in cash to acquire unknown stake at a provisional price INR 51.53 per equity share subject to adjustment on final valuation. Transaction is expected to complete within 15 days from the date of signing the agreement or such other date as may be mutually agreed between the parties. Ernst & Young LLP acted as financial advisor for the Founders of Bhavya Cements Limited. Anjani Portland Cement Limited (BSE:518091) completed the acquisition of 82.5% stake in Bhavya Cements Limited from its promoters for INR 6 billion on June 7, 2021. Anjani Portland Cement Limited acquired 115455015 fully paid-up Equity Shares of face value INR 10 per share at a price of INR 52.59 per share.