UltraTech Cement Ltd., the flagship company of the Aditya Birla Group, has announced the acquisition of a 32.72% equity stake in India Cements. The deal, valued at Rs 3,954 crore, will see UltraTech purchasing the shares from the promoters and their associates at a price of Rs 390 per share. This transaction will prompt a full exit for prominent promoter N Srinivasan from India Cements.
The acquisition follows UltraTech’s earlier investment in June 2024, where it acquired a 22.77% stake in India Cements at Rs 268 per share. The company has now decided to expand its holdings by securing the remaining promoter shares.
In addition to the purchase, UltraTech will extend an open offer to minority shareholders at the same price of Rs 390 per share. This offer represents a 4.8% premium over India Cements’ closing price of Rs 372 per share as of Friday.
“Post this financial investment, the promoter group approached us as they wanted to sell their holding in the company, and we found it appropriate to acquire their stake,” UltraTech stated in a press release on
