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Damani marginally increases stake in India Cements
January 18, 2021
Billionaire Radhakishan Damani’s stake in India Cements has increased marginally. Radhakishan Damani, along with brother Gopikishan Damani, held 21.14 per cent stake in India Cements as on December 31, 2020, up from 20.4 per cent three months ago.
Promoter and promoter Group held 28.42 per cent stake in India Cements as of December 2020, according to a company filing to the exchange.
Speculations were rife over a possible acquisition of controlling stake by Damani family in India Cements, but N Srinivasan, Vice-chairman & Managing Director of the company, had denied such takeover reports earlier.
Damani has not made any official comment on his stake in India Cements so far. India Cements has been maintaining that Damanis’ investments in the company were more of financial in nature than strategic one. ....

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