UltraTech Cement moves up on getting nod to purchase 32.72% equity stake in India Cements

Ultratech Cement Ltd. | Cement & Construction Materials | Construction & Infrastructure | BSE: 532538 | NSE: ULTRACEMCO

29 Jul 2024 Evaluate

Ultratech Cement is currently trading at Rs. 11761.00, up by 81.75 points or 0.70% from its previous closing of Rs. 11679.25 on the BSE.

The scrip opened at Rs. 11798.95 and has touched a high and low of Rs. 11830.00 and Rs. 11682.50 respectively. So far 7431 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12078.15 on 02-Jul-2024 and a 52 week low of Rs. 7940.55 on 16-Aug-2023.

Last one week high and low of the scrip stood at Rs. 11830.00 and Rs. 11215.05 respectively. The current market cap of the company is Rs. 339796.74 crore.

The promoters holding in the company stood at 59.99%, while Institutions and Non-Institutions held 32.59% and 7.48% respectively.

UltraTech Cement has received approval from board of directors to purchase of 32.72% equity stake of the promoters & their associates in India Cements.

Ultra Tech had made a financial investment in India Cements to acquire 22.77% equity at a price of Rs 268 per share in June 2024. India Cements has a total capacity of 14.45 mtpa of grey cement. Of this, 12.95 mtpa is in the South (particularly Tamil Nadu) and 1.5 mtpa is in Rajasthan. The transaction is subject to regulatory approvals.

Post signing of Share Purchase Agreements (SPA) and obtaining regulatory approvals, UltraTech will pay Rs 3,954 crore at Rs 390 per share for buying 32.72% stake in India Cements from the promoters & their associates. This will trigger a mandatory open offer, at Rs 390 per share. The Open Offer will be done subsequently after obtaining all regulatory approvals.

The Board of Directors of the Company at its meeting held on July 28, 2024 has approved the same.

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

Ultratech Cement Share Price

11948.20 -196.25 (-1.62%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Ultratech Cement	11948.20
Ambuja Cement	444.25
ACC	1392.00
Shree Cement	25437.05
Dalmia Bharat	1830.30
View more..

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