Shares of Shiva Cement will remain in focus, as JSW Cement is close to buying out the entire promoters’ stake, including that of ACC which owns 12.65 per cent equity in the Odisha-based firm.
JSW Cement will make an open offer to the shareholders of Shiva Cement after acquiring majority stake. The investment will enable JSW Steel to invest and expand the plant capacity of Shiva Cement. Earlier, Shree Cement had shown interest in Shiva Cement.