UltraTech Cement Expands Footprint with Strategic Acquisition of Star Cement Stake

UltraTech Cement, India's leading cement company, has acquired an 8.69% stake in Meghalaya-based Star Cement for Rs 851 crore. This move strengthens UltraTech's market position amid intensifying competition with Adani Group's Ambuja Cements, marking UltraTech's strategic expansion in India's cement sector.

In a notable move to bolster its position in the competitive cement sector, UltraTech Cement announced its acquisition of an 8.69% stake in Meghalaya-based Star Cement for a deal valued at Rs 851 crore. This acquisition is part of UltraTech's broader strategy to fend off mounting competition, particularly from Adani Group's entity, Ambuja Cements.

This development follows closely on the heels of UltraTech's recent acquisition of a majority stake in India Cements Ltd., a significant step that effectively transforms it into a subsidiary. The company is actively working to enhance its capacity via strategic acquisitions and expansion initiatives.

With an aim to solidify its leading position in India's cement industry, UltraTech is targeting an increase in capacity to 200 MTPA by the fiscal year 2027. Meanwhile, Star Cement, with significant operations in northeastern India, will contribute to UltraTech's strategic growth trajectory.

(With inputs from agencies.)