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UltraTech Cement to acquire 26% equity shares of M/s O2 Renewable Energy XXII

28 Mar 2024 Evaluate

UltraTech Cement has entered into Energy Supply agreement and Share Subscription and Shareholders agreement to acquire 26% equity shares of M/s O2 Renewable Energy XXII, a company engaged in generation and transmission of renewable energy. 

The objective of acquisition is to meet the green energy needs, optimize energy costs and comply with regulatory requirements for captive power consumption under electricity laws.

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

Peers
Company Name CMP
Ultratech Cement 10746.45
Ambuja Cements 349.00
ACC 1136.00
Shree Cement 22215.25
Dalmia Bharat 1619.75
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