UltraTech Cement has informed that the Company has received a communication from the Competition Commission of India under Section 29 (1) of the Competition Act, 2002 regarding the proposed acquisition of The India Cements Limited (‘ICEM’). The Company will be responding to the same. The Southern Market for grey cement, where ICEM primarily operates, is highly competitive and fragmented with the presence of over 35 grey cement manufacturers. The company is confident of the merits of its case. The company has attached the information in Annexure A.
The above information is a part of company’s filings submitted to BSE.
