JSW Cement Limited entered into an agreement to acquire Springway Mining Private Limited from The India Cements Limited (NSEI:INDIACEM) for INR 4.8 billion on October 10, 2022. Springway Mining Private Limited recorded net worth of INR 142.3 million for the financial year 2021-2022. JSW Cement paid INR 3.8 billion of the total consideration on signing of the agreement and the balance INR 1 billion will be paid on the date of completion. The transaction is subject to certain condition and is expected to complete on or before December 31, 2022.

JSW Cement Limited Completed the acquisition of Springway Mining Private Limited from The India Cements Limited (NSEI:INDIACEM) on December 31, 2022.