News: Ramco Cements has notified that the company has monetized non-core assets worth Rs 376 crores since Sept 2024 (Rs 326 crores via sale of equity shares held in Ramco Industries & Rs 50 crores via sale of compulsory convertible preference shares of Swiggy Limited). The proposed transaction will be undertaken as an inter-se transfer among Ramco Cements and promoters' entities of Ramco Industries.
Views: This is a part of company's target of monetizing Rs 1000 crores worth on non-core assets. Company will use the proceeds (from sale of non-core assets) for debt reduction (Gross debt stood at Rs 5026 crore as of June 2024).
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