Cements major India Cements Limited (ICL) has entered into a Share Purcahse Agreement with JSW Cement Limited and dvisted the entire shareholdings held by it in Springway Mining Private Limited (SMPL) for a total consideration of Rs 467.87 crores.”Consequently, SMPL ceased to be the wholly owned subsidiary of our Company”, India Cements said in a disclosure to the BSE and the NSE.”This is to inform you that our Company has entered into a Share Purchase Agreement on October 10 with JSW Cement Limited (Buyer) and divested the entire shareholdings held by it in SMPL for a total consideration of Rs.476.87 crores and consequently, SMPL ceased to be the wholly owned subsidiary of our Company”, it said.The disclosure was made as required under Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015. SMPL owns limestone bearing land at Pawai Tehsil, Panna district and is in the process of setting up of a cement plant at Gaisabad Tehsil, Damoh District in Madhya Pradesh. Of the total consideration of Rs.476.87 crores, it has received Rs.373.87 crores and upon completion of certain conditions of the Share Purchase Agreement, the buyer will release thebalance amount of Rs.103 crores on or before December 31 this year.