UltraTech Gains CCI Nod for Rs 7,000-Crore India Cements Acquisition

The Competition Commission of India approved UltraTech Cement's Rs 7,000-crore acquisition of a majority stake in India Cements Ltd., enabling UltraTech to consolidate its market lead. The deal comes amid fierce competition from the Adani Group, which is also expanding its cement market presence in India.

The Competition Commission of India (CCI) has given the green light to UltraTech Cement's substantial Rs 7,000-crore deal to acquire a majority share in India Cements Ltd. This approval, pivotal in the current competitive landscape, follows a recent query issued to UltraTech regarding clarification on the acquisition.

The acquisition, comprising a 32.72% stake in India Cements, solidifies UltraTech's footprint in the southern Indian cement market—a strategic move against Adani Group's expanding presence. UltraTech's open offer allows for further stake acquisition, reflecting its determination to maintain leadership in a fiercely contested industry.

As part of its growth strategy, Adani Cement has been acquiring firms to boost its production capacity to 140 MTPA by FY28. Meanwhile, UltraTech continues its expansion plans, targeting a 200 MTPA capacity by FY27, underscoring the intensifying rivalry in the Indian cement sector.

(With inputs from agencies.)