India Cements to sell Industrial Chemicals to Mirai for 98 crore

CHENNAI: India Cements is promoting its subsidiary Industrial Chemicals and Monomers (ICML) to Mirai Sensing for Rs 97.7 crore. The firm will enter into an settlement with Chennai-based Mirai Sensing and full the sale inside six months from the date of settlement, India Cements knowledgeable the inventory change. India Cements board at its assembly, on Saturday, authorized the sale of its complete fairness funding held in ICML. After completion of the sale, ICML would stop to be its subsidiary, the regulatory submitting added.