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UltraTech Cement surges as the company to acquire Kesoram Industries’ cement business

01 Dec 2023 Evaluate

Ultratech Cement is currently trading at Rs. 9031.50, up by 30.85 points or 0.34% from its previous closing of Rs. 9000.65 on the BSE.

The scrip opened at Rs. 9100.05 and has touched a high and low of Rs. 9152.00 and Rs. 8976.45 respectively. So far 23669 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 9152.00 on 1-Dec-2023 and a 52 week low of Rs. 6605.45 on 27-Jan-2023.

Last one week high and low of the scrip stood at Rs. 9152.00 and Rs. 8582.70 respectively. The current market cap of the company is Rs. 260074.94 crore.

The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 31.74% and 7.78% respectively.

UltraTech Cement is all set to acquire the cement business of BK Birla Group's flagship company Kesoram Industries in an all-share deal, with a business valuation of around Rs 7,600 crore, including debt. For this transaction, UltraTech will issue 59,74,301 new equity shares to the shareholders. This will increase its equity capital to Rs 294.66 crore, consisting of 29.47 crore equity shares of Rs 10 each. The transaction will provide UltraTech with the opportunity to expand its footprint in the highly fragmented, competitive and fast-growing western and southern markets in the country. The transaction is expected to be consummated within 9-12 months subject to regulatory approvals.

Kesoram currently has two integrated cement units at Sedam (Karnataka) and Basantnagar (Telangana) with a total installed capacity of 10.75 million tonnes per annum (MTPA) as well as a 0.66 MTPA packing plant at Solapur, Maharashtra. In 2022-23, Kesoram's turnover from cement operations was Rs 3,533.75 crore. Kesoram Industries’ board of directors has approved a Composite Scheme of Arrangement amongst the Company, and UltraTech Cement and their respective shareholders and creditors for demerger of its cement division into UltraTech and reduction and cancellation of the preference share capital of the Company.

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


Ultratech Cement Share Price

12147.45 -47.55 (-0.39%)
23-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 12147.45
Ambuja Cement 450.35
ACC 1423.65
Shree Cement 25462.40
Dalmia Bharat 1958.40
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