UltraTech Cement Expands Southern Market Footprint with India Cements Acquisition

Aditya Birla Group’s UltraTech Cement is set to acquire a 32.72% stake in India Cements for Rs 3,954 crore to strengthen its presence in the Southern Indian market, especially Tamil Nadu. This acquisition includes an open offer for an additional 26% of India Cements' shares, valued at Rs 3,142.35 crore.

In a strategic move to solidify its foothold in the competitive Southern Indian cement market, UltraTech Cement, a flagship company of the Aditya Birla Group, announced a significant acquisition deal involving India Cements. The company plans to acquire a 32.72 per cent stake from India Cements' promoters for Rs 3,954 crore.

The acquisition aims to boost UltraTech's presence in Tamil Nadu and comes alongside an open offer to purchase an additional 26 per cent of shares from existing shareholders, a deal valued at approximately Rs 3,142.35 crore. The move mirrors a recent expansion trend, as seen with Adani Group's acquisition activities in the cement sector.

UltraTech Cement's current installed capacity of 154.86 million tonnes annually firmly places it at the helm of the Indian cement industry. With this latest acquisition, the company aims to reach its long-term goal of 200 MTPA, further fortifying its position in the global market.