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MoneyWorks4Me

UltraTech Cement’s arm invests Rs 839.52 crore in RAKWCT

16 Apr 2022 Evaluate

UltraTech Cement’s wholly-owned subsidiary -- UltraTech Cement Middle East Investments (UCMEIL) has invested $101.10 million (around Rs 839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This is a ‘strategic investment’ for the company. This together with the existing shareholding, will result in UCMEIL holding 29.79 per cent of RAKWCT’s equity share capital.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.

Peers
Company Name CMP
Ultratech Cement 11050.10
Ambuja Cements 348.50
ACC 1130.30
Shree Cement 23069.05
Dalmia Bharat 1324.70
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