UltraTech Cement Limited on April 3, 2025, announced the acquisition of Wonder WallCare Private Limited, a subsidiary of Wonder Cement, for an enterprise value not exceeding Rs 235 crore. The deal, approved by the company’s board, includes the purchase of 100% equity shares—amounting to 6.42 crore shares at Rs 10 each—and will make Wonder WallCare a wholly-owned subsidiary of UltraTech.
Wonder WallCare operates a 6 lakh metric tonnes per annum wall putty manufacturing plant in Rajsamand-Nathdwara, Rajasthan. Constructed in 2022-23, the facility is located near large high-quality raw material reserves and close to UltraTech’s existing operations, enabling logistics and operational efficiencies.
The acquisition aligns with UltraTech’s broader strategy to expand in the value-added white cement and putty segment, especially with India’s increasing urbanisation and infrastructure demand under the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.
Wonder WallCare reported a turnover of Rs 78.61 crore in FY24, compared to Rs 20.36 crore in FY23. The plant is one of the largest single-location wall putty manufacturing sites in India and is capable of future capacity expansion.
The transaction will be completed in approximately three months, subject to regulatory approvals and compliances.
