Private Equity Other Private Equity/Strategic Investments
UltraTech Cement to buy 23% stake in India Cements for Rs.1,885-Cr
Source BSE (opens in a new tab)
UltraTech Cement, an Aditya Birla Group company, is to acquire a 23% stake (7.06 shares) in fellow publicly listed India Cements for INR 1885 crore. The acquisition is at a price of up to INR 267 per share.As of March 2024, promoters held a 28% stake in India Cements and resident individuals owned 39.33%. Of these, Radhakishan Shivkishan Damani and Gopikishan Shivkishan Damani collectively held 22.78%