UltraTech Cement in focus on April 4 after board approves Rs 235 crore acquisition of Wonder WallCare

Shares of UltraTech Cement Ltd will be in focus on April 4 after the company, post-market hours on Thursday, announced the acquisition of Wonder WallCare Pvt. Ltd. in a deal valued at up to ₹235 crore. The move is aimed at expanding UltraTech’s presence in the white cement and wall putty space, a fast-growing and competitive segment in the construction materials industry.

The board of directors has approved the purchase of 100% equity in Wonder WallCare, involving 6.42 crore equity shares of ₹10 each. The company has signed a Share Purchase Agreement with existing shareholders, and the transaction is expected to be completed within 90 days, subject to regulatory approvals.

The deal gives UltraTech access to a 6 lakh metric tonnes per annum state-of-the-art wall putty plant at Rajsamand – Nathdwara in Rajasthan. The facility, built recently in 2022–23, is one of the largest single-location putty manufacturing sites in India. It is located at the pithead of rich raw material reserves and in proximity to UltraTech’s existing operations in Rajasthan, enhancing logistical and production efficiency.

This acquisition aligns with UltraTech’s strategy to scale up its value-added products portfolio and strengthen its competitive positioning in the building materials space. The stock closed 2.92% higher at ₹11,583.65 on April 3.