UltraTech Cement has received approval to acquire the cement business of Century Textiles and Industries. The meeting of the Board of Directors of the company held on May 20, 2018, has approved a scheme of arrangement amongst the both companies and its respective shareholders and creditors.
The company will issue 1.4 crore new equity shares to the shareholders of Century, which will increase its equity capital to Rs 288.58 crore, divided into 28.86 crore equity shares of Rs 10 each.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.
