Star Cement Has informed that the company has incorporated Star Cement North East Limited in Assam as a wholly-owned subsidiary company.
The Company has been incorporated to carry out cement and cement-related business in line with the business of the holding company.
Star Cement North East Limited has been incorporated as a wholly-owned subsidiary company and having Registered Office at Guwahati, Assam. The company is yet to start operations.
The cost of acquisition is an initial subscription of Rs5,00,000/- divided into 50,000 Equity Shares of Rs10/- each.
The Ministry of Corporate Affairs (MCA) has approved both incorporations.
Star Cement ended Wednesday trade at Rs111.80 a price higher by Rs0.85 or 0.77% on Sensex.