India Cements Capital has scheduled its 40th Annual General Meeting for Tuesday, September 15, 2026. The meeting will commence at 11:00 am Indian Standard Time and will be conducted through Video Conferencing or Other Audio Visual Means. This format complies with the Companies Act, 2013, Ministry of Corporate Affairs Circular No 03/2025 dated September 22, 2025, and relevant SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company notified shareholders of the upcoming meeting through newspaper advertisements published in Trinity Mirror and Makkalkural on August 20, 2026. The notice aligns with Regulation 30 of the SEBI LODR Regulations, 2015. Shareholders are expected to transact ordinary and special business as outlined in the notice issued on August 5, 2026.

Meeting Details

The company’s registered and corporate office is located at Gee Gee Emerald, Nungambakkam, Chennai. Suresh Krishnamurthy, Company Secretary, digitally signed the disclosure on August 20, 2026.

India Cements Capital public shareholders can tender their equity shares starting September 17, 2026, as acquirers Sandeep Jain, Vikas Garg, and Rahul Nagar proceed with a mandatory open offer to acquire up to 26% of the company’s voting share capital. The offer price is fixed at ₹12 per share, matching the negotiated price paid by the acquirers to purchase a 50.02% promoter stake from Sri Saradha Logistics Private Limited on July 24, 2026. This transaction marks a significant change in control, with the new promoters aiming to revive business performance while maintaining the existing workforce and foreign currency trading operations.

The acquirers filed the Draft Letter of Offer (DLOF) with SEBI on August 7, 2026, following a public announcement on July 24, 2026. The open offer seeks to acquire up to 56,43,612 fully paid-up equity shares, representing 26% of the total voting share capital. The tendering period runs from September 17, 2026, to September 30, 2026. The identified date for determining eligible shareholders is September 2, 2026. The offer is subject to prior approval from the Reserve Bank of India (RBI) regarding the change in control and management of the target company, which is an Authorized Dealer Category-II.

Financial arrangements for the offer are secured through the acquirers’ own net worth, with no external borrowings envisaged. An escrow account has been opened with Yes Bank Limited, holding ₹1,70,00,000, which exceeds the required 25% of the maximum consideration of ₹6,77,23,344. The offer price of ₹12 per share was justified under Regulation 8(2) of the SEBI (SAST) Regulations as it is higher than the volume-weighted average price and the fair value of ₹6.19 per share certified by an IBBI-registered valuer.

What the Numbers Show

The acquisition coincides with India Cements Capital’s return to profitability in Q1FY27, reporting a standalone net profit of ₹6.12 lakh compared to a loss of ₹36.28 lakh in the same quarter last year. While revenue from operations declined slightly to ₹113.40 lakh from ₹127.48 lakh, cost containment drove the turnaround. The new promoters, who are also promoters of Pankaj Polymers Limited, bring combined individual net worths exceeding ₹99 crore as of June 30, 2026. Post-offer, if fully accepted, public shareholding may fall below the minimum 25% requirement, obligating the acquirers to restore it within prescribed timelines to maintain listing status.