In continuation to its letter dated 28.07.2024 intimating the signing of Share Purchase Agreements by the Promoters, members of the promoter group and the other shareholder agreeing to sell their entire stake in the Company with UltraTech Cement (Acquirer’/ ‘UltraTech’), The India Cements has informed that the Competition Commission of India vide its communication dated 20th December 2024 granted its approval to the Acquirer to: i) acquire 10,13,91,231 equity shares of Rs.10/- each representing 32.72% of the equity share capital of the Company held by the promoters, members of the promoter group and the other shareholder (referred to therein as the ‘Primary Acquisition’); and ii) make an open offer for up to 8,05,73,273 equity shares of Rs.10/- each constituting 26% of the equity share capital of the Company, at a price of Rs. 390/- per equity share, from the public shareholders of the Company.
The above information is a part of company’s filings submitted to BSE.
