UltraTech Cement Ltd acquires 32.72% stake in India Cements Limited for Rs 3,954 crore.
UltraTech Cement Ltd, India's largest cement manufacturer, has acquired a 32.72% stake in India Cements Limited, owned by industrialist N Srinivasan, for Rs 3,954 crore. This acquisition follows UltraTech's initial investment in June where it acquired a 22.7% stake in India Cements. The purchase triggers an open offer, and if fully subscribed, the total cost for UltraTech could rise to Rs 7,100 crore.
July 28, 2024
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