UltraTech Cement Expands Southern Market Presence with Major Stake Acquisition in India Cements

UltraTech Cement, a flagship company of Aditya Birla Group, is acquiring a 32.72% stake in India Cements for Rs 3,954 crore. This strategic move aims to expand UltraTech’s presence in the competitive Southern market. Additionally, an open offer to acquire another 26% of ICL's shares is announced.

UltraTech Cement, the flagship company of Aditya Birla Group, has announced its acquisition of a 32.72% stake in India Cements Limited from promoters and their associates for Rs 3,954 crore. This move is part of UltraTech's strategy to strengthen its presence in the fast-growing and competitive Southern cement market, particularly Tamil Nadu.

In addition to the stake acquisition, UltraTech has proposed a Rs 3,142.35 crore open offer to acquire a further 26% share of India Cements from its shareholders. This follows Adani Group's recent acquisition of Penna Cement, raising its capacity to 93 MTPA.

UltraTech Cement, with an installed capacity of 154.86 MTPA, aims to become one of the largest global cement companies, setting a target of 200 MTPA. The acquisition will mandate UltraTech to make an open offer as per Sebi regulations after securing necessary regulatory approvals.