The UltraTech Cement is owned by Aditya Birla Group which is set to buy the promoter group of India Cements. UltraTech will pay Rs 3,954 crores at Rs 390 per share for buying a 32.72 per cent stake in India Cements.(Image: X @UltraTech)

One of the most popular cement companies in India UltraTech made its financial investment in India Cements which is going to be the end of  N Srinivasan era in India Cement, Chennai. The UltraTech Cement is owned by Aditya Birla Group is set to buy the promoter group of India Cements. UltraTech will pay Rs 3,954 crores at Rs 390 per share for buying a 32.72 per cent stake in India Cements. This will trigger an open offer that the company will raise a whopping cost of 7,100 crore which is considered as the total share.

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UltraTech has signed the agreement and has obtained the regulatory approvals to buy stakes in India Cements. Over the years, UltraTech Cement’s investments have propelled both organic and inorganic business which sets design accurate solutions in the building industry to gain global dominance. This opportunity in India Cements would cater to this vision as it enables UltraTech to contribute more to the Southern Markets, said Kumar Mangalam Birla, Chairman, of Aditya Group. This will lead to growth in the market accelerating its path to 200+ MTP capacity, he added.

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The company operates about 25 MTPs in South India as per UltraTech’s investors’ presentation in July. The company plans to add 10 MTPs before the financial year 2027. UltraTech stated on Sunday that the current deal with India Cements will bestow them a chance to evaluate the market and optimise accordingly focusing on the expansion plans in South India.

Taking the recent time demand in the industry, most of the cement companies are in the race to keep pace adding fresh capacities to dominate the Indian Market as one of the leading groups Ambuja Cement- promoted by Adani is set to expand their capacity to South as they are on an acquisition spree while UltraTech ‘Made It Possible” keeping away Adani from acquiring India Cements.