UltraTech acquires majority stakes in India Cements in deal worth Rs 7,000 crore
Cement sector major UltraTech Cement has announced accruing majority stakes in India Cements from its promoters and associates. UltraTech has taken a 32.72% equity stake for Rs 7,000 crore. India Cements has a total capacity of 14.45 million tonnes per annum (mtpa) of grey cement and has 12.95 mtpa in Tamil Nadu and 1.5 mtpa in Rajasthan.
Earlier, UltraTech made a financial investment in June 2024, acquiring a 22.77% stake in India Cements at Rs 268 per share.