HomeBricks & MortarCCI Approves UltraTech’s ₹7,000 Crore India Cements Acquisition

CCI Approves UltraTech’s ₹7,000 Crore India Cements Acquisition

In a significant move for India’s cement sector, the Competition Commission of India (CCI) has granted approval for UltraTech Cement’s ₹7,000 crore acquisition of a majority stake in India Cements. The approval, granted on 20 December 2024, paves the way for UltraTech Cement to expand its dominance in the highly competitive southern cement market.

Under the terms of the deal, UltraTech Cement will acquire 10,13,91,231 equity shares, constituting 32.72% of India Cements’ equity share capital. These shares are being bought from the promoters, members of the promoter group, and other shareholders of the company. Additionally, UltraTech Cement’s open offer to acquire up to 8,05,73,273 equity shares, amounting to 26% of India Cements’ equity share capital, has also been approved by CCI. This offer is priced at ₹390 per share and is aimed at the public shareholders of India Cements. This acquisition, first announced on 28 July 2024, represents UltraTech Cement’s continued growth strategy in India’s southern cement market. With this move, UltraTech is set to further consolidate its position as a leading player in the sector, expanding its footprint in one of the most rapidly growing and competitive markets in the country.

The approval comes on the heels of positive market reactions, with shares of UltraTech Cement rising by 0.21% to ₹11,448.45, while India Cements saw a significant surge of 8.22%, trading at ₹366.85 on the Bombay Stock Exchange (BSE). UltraTech Cement, the flagship cement company of the Aditya Birla Group, is the world’s third-largest cement producer outside of China. With a consolidated grey cement capacity of 154.86 million tonnes per annum (mtpa), UltraTech Cement continues to reinforce its leadership position in the global cement industry. This acquisition is poised to not only strengthen UltraTech Cement’s market share but also help India Cements scale new heights in the cement manufacturing and sales domain, ensuring the long-term growth of both companies within the industry.

RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Recent Comments

Greater Noida Unveils 341-Unit Luxury Enclave With Focus On Green Living

Greater Noida Unveils 341-Unit Luxury Enclave With Focus On Green Living

0
Greater Noida is set to witness a new benchmark in ultra-premium housing with the launch of a ₹1,500 crore residential project featuring 341 luxury...
Pune Shapoorji Pallonji Targets Rs800 Crore From New Housing Project

Pune Shapoorji Pallonji Targets Rs800 Crore From New Housing Project

0
In Pune, Shapoorji Pallonji a leading real estate firm has announced the development of a new 5-acre residential project, 'VANAHA Verdant,' with an estimated...
Oberoi Realty Consortium Secures Rs 919 Crore Juhu Land Deal via NCLT Resolution

Oberoi Realty Consortium Secures Rs 919 Crore Juhu Land Deal via NCLT Resolution

0
A consortium led by Oberoi Realty has successfully secured a prime land parcel in Mumbai’s upscale Juhu locality for ₹919 crore through an NCLT-monitored...
Rustomjee Group Unveils Three Mumbai Redevelopment Projects Worth Rs 7,727 Crore

Rustomjee Group Unveils Three Mumbai Redevelopment Projects Worth Rs 7,727 Crore

0
Rustomjee Group launches three large-scale redevelopment initiatives worth ₹7,727 crore in Q1 of fiscal 2026. This move underscores the developer’s continued commitment to transforming the...
Bollywood Star Salman Khan Sells Bandra West Apartment For Rs 5.35 Crore

Bollywood Star Salman Khan Sells Bandra West Apartment For Rs 5.35 Crore

0
Bollywood actor Salman Khan has sold an apartment in the upscale Bandra West locality for Rs 5.35 crore, according to property registration documents reviewed...