Birla Corporation’s wholly owned material subsidiary -- RCCPL has completed the acquisition of 100% equity shares of Utility Infrastructure & Works, pursuant to a Share Purchase Agreement dated March 31, 2022. Accordingly, Utility Infrastructure & Works has become a wholly owned subsidiary of RCCPL and a step down wholly owned subsidiary of the Company with effect from March 31, 2022. Objects of acquisition is to secure certain financial assets of the company.
Birla Corporation is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.
