JK Lakshmi Cement Limited (BSE:500380) agreed to acquire 85% stake in Agrani Cement Pvt. Ltd. for INR 3.3 billion on February 9, 2024. Consequent to acquisition of Agrani Cement, Trivikram Cement Pvt.

Ltd., Mahabal Cement Pvt Ltd. and Avichal Cement Pvt Ltd, Wholly Owned Subsidiaries of Agrani would also become subsidiaries of JK Lakshmi Cement. Agrani Cement reported total assets of INR 0.09908 million as at March 31, 2023. The transaction is expected to close on or before March 31, 2024.