SAGAR CEMENTS LTD.-$ - 502090 - Announcement under Regulation 30 (LODR)-Credit Rating
Pursuant to Regulation 30 read with Part A of Schedule Ill to SEBI (LODR) Regulations 2015, we wish to inform you that Indian Rating & Research Private Limited has since placed Sagar Cements Limited''s (SCL) Long Term Issuer Rating at "IND A'''' /Stable on Rating Watch with Developing Implications vide its Letter dated 3pt March, 2023 (received on 3rd April, 2023), of which a copy is attached. SAGAR CEMENTS LTD.-$ - 502090 - Intimation Of Dispatch Of Postal Ballot Notice To Our Shareholders
We refer to our letter dated 27th March 2023 informing you of our Board''s decision to appoint Independent Director and a proposal to furnish a Corporate Guarantee for a sum not exceeding Rs.665 crores to State Bank of India, as security for the loan availed by our subsidiary viz., Andhra Cements Limited and to pledge 25% of Sagar Cement''s holdings in Andhra Cements Limited in favour of the said banker as further security for the said loan, subject to approval of our shareholders under the applicable rules and regulations. We would now like to inform that pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we propose to conduct a Postal Ballot with facility for e-voting for seeking the said approval under applicable Sections of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015 from our shareholders. SAGAR CEMENTS LTD.-$ - 502090 - Announcement under Regulation 30 (LODR)-Change in Directorate
We write to inform you that Shri V.H.Ramakrishnan, one of our Independent Directors has today laid down his office on completing his second consecutive term as an Independent Director of the Company and he ceases to be a member of the Board and all Sub-Committees with effect from 30th March, 2023. SAGAR CEMENTS LTD.-$ - 502090 - Closure of Trading Window
We wish to inform you that in accordance with the Code for Prevention of Insider Trading adopted by our company read with SEBI (Prohibition of Insider Trading) Regulations, 2015, the Trading Window for the shares of our company will remain closed from 1st April, 2023 till 48 hours after the date of the declaration of our financial results for the fourth quarter and year ending 31st March, 2023 after their approval by our Board at its meeting, the date of which will be fixed and intimated to you in due course.
Buy Sagar Cement; target of Rs 250: ICICI Direct
ICICI Direct is bullish on Sagar Cement recommended buy rating on the stock with a target price of Rs 250 in its research report dated March 28, 2023. SAGAR CEMENTS LTD.-$ - 502090 - Intimation Under Regulation 30 Read With Schedule Ill Part "A" B (11) Of SEBI (LODR) Regulations 2015
Pursuant to the above said Regulation, we wish to inform you that our Board at its meeting held on today, has approved a proposal to furnish a Corporate Guarantee for a sum not exceeding Rs.665 crores to State Bank of India, as security for the loan availed by our subsidiary viz., Andhra Cements Limited. Our Board has also approved a proposal to pledge 25% of Sagar Cement''s holdings in Andhra Cements Limited in favour of the said banker as further security for the said loan. SAGAR CEMENTS LTD.-$ - 502090 - Announcement under Regulation 30 (LODR)-Change in Directorate
We are pleased to inform you that our Board of Directors at their meeting held on today has inducted Shri Ravichandran Rajagopal (DIN: 00110930) as an Additional Director under Section 161 of the Companies Act, 2013 read with Article 88 of the Articles of Association of the Company and the said Shri Ravichandran Rajagopal will be categorized as an Independent Director of the company to hold office for a period of five years with effect from today viz., 27th March, 2023. The above appointment is subject to the approval of the shareholders under the Companies Act, 2013 and under SEBI (LODR) Regulations, 2015. SAGAR CEMENTS LTD.-$ - 502090 - Disclosure Under Regulation 30 Read With Schedule III Of SEBI (LODR) Regulations, 2015
We wish to inform you that under the Resolution Plan approved by the National Company Law Tribunal, Andhra Cements Limited has today allotted to us 8,75,63,533 equity shares of Rs.10/- each at a premium of Rs.26.80 per equity share, which works out to 95% of the share capital of the said subsidiary.
Sagar Cements: Inorganic growth story continues with latest acquisition
New capacities and robust end-market demand to drive revenue growth, but elevated debt load is of concern SAGAR CEMENTS LTD.-$ - 502090 - Updation On Our On-Going Acquisition Of Mis. Andhra Cements Limited (ACL) Under The Resolution Plant Of NCLT - Intimation Under Regulation 30 Read With Schedule Ill Of Securities Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.
Further to our letter dated 16th February, 2023 on the subject, we wish to inform you that ACL after dissolving its Board which had been under suspension under the Resolution Plan, has since re-constituted it by inducting with effect from 7th March 2023, the following three individuals as Non-Executive Directors, who were nominated by us as Directors for the purpose. 1. Dr.S. Anand Reddy - Currently the Managing Director of Sagar Cements Limited. 2. Shri S. Sreekanth Reddy - Currently the Joint Managing Director .of Sagar Cements Limited 3. Smt.S. Rachana - Currently one of the Non-executive Directors of Sagar Cements Limited. Consequent to the re-constitution of the Board of ACL as mentioned above, ACL has now become our one more subsidiary company.