The Competition Commission of India has approved the proposed combination involving inter alia acquisition by India Resurgence Fund in Shree Digvijay Cement Company Limited and acquisition by Digvijay Cement Company Limited in Hi-Bond Cement (India) Private Limited.

India Resurgence Fund (IndiaRF) is a Category II Alternative Investment Fund registered with Securities and Exchange Board of India and is managed by India Resurgence Asset Management Business Private Limited.

Digvijay Cement Company (Digvijay) and Hi-Bond Cement (India) Private Limited (Hi-Bond) are engaged in the manufacture and sale of grey cement.

The proposed combination envisages the acquisition of shareholding by IndiaRF in Digvijay, the proposed long term business arrangement between Hi-Bond and Digvijay, and the proposed acquisition of shareholding by Digvijay in Hi-Bond (Proposed Combination).

Detailed order of the Commission will follow.

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