UltraTech Cements receives green flag from CCI to acquire majority stake in India Cements
2 weeks, 5 days ago

UltraTech Cements receives green flag from CCI to acquire majority stake in India Cements

Live Mint  

Billionaire Kumar Mangalam Birla's promoted UltraTech Cement received major relief on Friday after the Competition Commission of India cleared its proposal to acquire a majority stake in India Cements, reported PTI. In addition, the CCI also granted UltraTech Cement the license to acquire up to 26 per cent of India Cements' paid-up equity share capital through an open offer. "The proposed combination envisages UltraTech Cement Ltd's acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd from the promoters and members of the promoter group of India Cements and Sri Saradha Logistics Pvt Ltd," the news agency quoted CCI's release as saying. About the deal: Earlier in July 2024, UltraTech Cement announced the acquisition of a 32.72 per cent stake in India Cements from promoters and their associates in a ₹3,954 crore deal.

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History of this topic

India Cements CEO N. Srinivasan Resigns As UltraTech’s Rs 7,000-Crore Deal Gets CCI Approval
2 weeks ago

India Cements CEO N. Srinivasan Resigns As UltraTech’s Rs 7,000-Crore Deal Gets CCI Approval

ABP News  

N. Srinivasan resigned as the Chief Executive Officer of India Cements on Wednesday, following the approval from the Competition Commission of India for a deal worth over Rs 7,000 crore. The deal will see billionaire Kumar Mangalam Birla's UltraTech Cement acquire a majority stake in India Cements Ltd. India Cements Ltd announced that following the completion of the transaction and …

India Cements shares surge 8 pc
Trending News
2 weeks, 2 days ago

India Cements shares surge 8 pc

Live Mint  

New Delhi, Shares of India Cements ended 8 per cent higher on Monday after the Competition Commission of India cleared billionaire Kumar Mangalam Birla-promoted UltraTech Cement's proposal to acquire a majority stake in the firm. "The proposed combination envisages UltraTech Cement Ltd's acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd from the promoters …

India Cements share price surges 11% to 52-week high on CCI nod to UltraTech deal
Top News
2 weeks, 3 days ago

India Cements share price surges 11% to 52-week high on CCI nod to UltraTech deal

Live Mint  

India Cements share price jumped 11% to reach a new 52-week peak during Monday's trading session after the announcement that the Competition Commission of India has sanctioned UltraTech Cement Limited's acquisition of The India Cements Limited. The proposed arrangement involves UltraTech Cement Limited purchasing 32.72 percent of the paid-up equity share capital of The India Cements Limited from its promoters …

UltraTech Cement's Q2 profit soars to ₹825 crore, but revenue and sales decline
2 months, 2 weeks ago

UltraTech Cement's Q2 profit soars to ₹825 crore, but revenue and sales decline

The Hindu  

UltraTech Cement reports a consolidated net profit of ₹825 crore for the September quarter 2024-25. The company's revenue from operations was at ₹15,634.73 crore, while its total expenses were at ₹14,837.44 crore. Despite the decline in sales volume, UltraTech achieved a 68% capacity utilisation rate.

UltraTech to acquire 32.72 % additional stake in India Cement for ₹3,954 crore
5 months, 1 week ago

UltraTech to acquire 32.72 % additional stake in India Cement for ₹3,954 crore

Hindustan Times  

Leading cement manufacturer UltraTech will acquire an additional 32.72 per cent stake in India Cements Ltd from the promoters of the South-based company for ₹3,954 crore. The board of the Aditya Birla firm on Sunday approved the proposal to acquire the promoters' 32.72 per cent stake at ₹390 per share, UltraTech said in a regulatory filing on Sunday. After the …

UltraTech enters into a pact with India Cements to buy additional 32.72% stake for ₹3,954 crore
5 months, 1 week ago

UltraTech enters into a pact with India Cements to buy additional 32.72% stake for ₹3,954 crore

The Hindu  

Aditya Birla group-owned UltraTech on July 28 entered into a share purchase agreement with the promoters and their associates of India Cements Ltd to purchase 10,13,91,231 equity shares or 32.72% stake for ₹390 apiece totalling to ₹3,954 crore, subject to regulatory approvals. There will not be any change in management of the company till the completion of the acquisition, as …

Cement: Too early for the consolidation party
6 months, 1 week ago

Cement: Too early for the consolidation party

Live Mint  

It’s a dog-eat-dog world in the Indian cement industry. Last week, the industry bellwether UltraTech Cement Ltd announced the acquisition of 23% stake in South-based The India Cements Ltd for ₹1,900 crore. In another instance, close competitor Adani Group company Ambuja Cements Ltd announced acquisition of Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore earlier this month. “With …

UltraTech Cements to acquire 23 pc stake in India Cements
6 months, 1 week ago

UltraTech Cements to acquire 23 pc stake in India Cements

Deccan Chronicle  

UltraTech Cements, owned by Aditya Birla Group, announced its plans to acquire a 23 per cent stake in Chennai-based India Cements, raising speculations over a hostile takeover. However, as per market sources, the shares have been mostly bought from D-Mart founder Radhakishan Damani and his associated entities, who held a 20.78 per cent stake in India Cements. ELM Park Fund …

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India
6 months, 1 week ago

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India

Hindustan Times  

Kumar Mangalam Birla’s UltraTech Cement is acquiring a 23% stake in Chennai-based India Cements to counter the Adani Group’s buying spree, as the battle to dominate India’s cement sector, particularly in South India, intensifies. UltraTech Cement, India's largest cement maker, will pay ₹267 a share to purchase 7.06 crore shares of India Cements, adding up to a ₹1,885 crore deal. …

UltraTech Cement share price crosses ₹10,000 mark, up 40% this year; should you buy?
1 year ago

UltraTech Cement share price crosses ₹10,000 mark, up 40% this year; should you buy?

Live Mint  

In today's trading session, UltraTech Cement, a flagship company of the Aditya Birla Group, achieved a historic milestone as its shares surged beyond the ₹10,000 mark for the first time. Meanwhile, UltraTech Cement is set to acquire the cement business of BK Birla Group's flagship company, Kesoram Industries, in an all-share deal valued at approximately ₹7,600 crore, including debt. It …

Enforcement Directorate against court relief for Srini, India Cements
4 years, 10 months ago

Enforcement Directorate against court relief for Srini, India Cements

Deccan Chronicle  

Hyderabad: The Enforcement Directorate on Thursday submitted that it had substantial evidence about money laundering by Mr N. Srinivasan and his India Cements in companies owned by Y.S. It pointed out to investments to the tune of Rs 140 crore, made by India Cements Ltd in Jagan’s companies at a exorbitant premiums of up to 1300 percentage more than the …

Ultratech to complete Century Cement merger by September: Kumar Mangalam Birla
5 years, 5 months ago

Ultratech to complete Century Cement merger by September: Kumar Mangalam Birla

Live Mint  

Ultratech Cement chairman Kumar Mangalam Birla on Thursday said the company will complete merger of Century Cement during the course of the second quarter of the current fiscal, which will take its capacity to 117.35 million tone. "The merger of Century Cement will be completed during the second quarter of the current financial year," Birla told the shareholders at the …

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