JSW Cement Limited agreed to acquire 35.62% stake in Shiva Cement Limited (BSE:532323) from its shareholders for approximately INR 970 million on January 10, 2017. The sellers are Unicon Merchants Private Limited, RP Gupta, RP Gupta (HUF), Vikash Gupta, Sonu Gupta, Shilpi Gupta, Preeti Gupta, Anubha Gupta and Akash Gupta. JSW Cement Limited will acquire 69.5 million shares of Shiva Cement Limited. JSW Cement Limited together with Sun Investments Limited and Reynold Traders Pvt. Ltd also made an offer to acquire 32% stake in Shiva Cement Limited (BSE:532323) for INR 873.60 million in cash on January 10, 2017. The transaction is subject to approval of Tata Capital Financial Services Limited being one of the lenders of Shiva Cement Limited. The transaction was approved by the Board of Shiva Cement Limited on January 10, 2017.