UltraTech Cement to Expand Southern Market Footprint with India Cements Acquisition

UltraTech Cement, a flagship company of Aditya Birla Group, announced it will acquire a 32.72% stake in India Cements for ₹3,954 crore. Additionally, it plans a ₹3,142.35 crore open offer for another 26% share. This move aims to expand its presence in the competitive Southern cement market, particularly Tamil Nadu.

UltraTech Cement, the flagship company of Aditya Birla Group, is set to acquire a 32.72 percent stake in India Cements from promoters and their associates in a ₹3,954 crore deal. This strategic acquisition aims to expand UltraTech's footprint in the increasingly competitive Southern cement market, particularly in Tamil Nadu.

In addition to this, UltraTech announced a ₹3,142.35 crore open offer to acquire another 26 percent share of India Cements Ltd (ICL) from existing shareholders. UltraTech's ambition to become one of the world's largest cement companies is evident as it aims for a target capacity of 200 million tonnes per annum (MTPA).

This move follows the recent acquisition spree by Adani Group, which aims to reach a capacity of 140 MTPA by FY28. With this acquisition, UltraTech's operational efficiencies are expected to increase, enabling faster market presence in the Southern region through ready-to-use assets. The transaction remains subject to regulatory approval from the Competition Commission of India.