Star Cement’s wholly owned subsidiary, Ri Pnar Cement Private Limited, has entered into a Share Purchase Agreement to acquire Nitesh Minerals Private Limited for a total consideration of ₹17.19 crore. This acquisition will make Nitesh Minerals a wholly owned subsidiary of Ri Pnar Cement and a step-down subsidiary of Star Cement.
The acquisition is aimed at ensuring an uninterrupted supply of limestone for Star Cement’s operations, leveraging Nitesh Minerals’ existing mining lease. This strategic move is expected to provide logistic benefits to the company, aligning with its core business in the cement industry.
Nitesh Minerals, incorporated on 7th December 2006, operates in the mines and minerals sector. The company reported a turnover of ₹157.22 lakh in 2025. Its authorised share capital stands at ₹25 lakh, with a paid-up share capital of ₹4.50 lakh.
The acquisition, which involves a cash consideration, does not fall under related party transactions, ensuring that the promoter group has no interest in the entity being acquired. The transaction was finalised with the signing of the Share Purchase Agreement on 18th April 2026.
Nitesh Minerals is based in Jodhpur, Rajasthan, India, and has been involved in the mining and mineral products business. Over the last three years, the company has seen fluctuating turnover figures, with ₹287.07 lakh in 2024 and no turnover reported in 2023.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.