UltraTech Cement has completed acquisition of 10,13,91,231 equity shares representing 32.72% of the equity share capital of The India Cements (ICEM), in accordance with Regulation 22(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
This, together with the existing shareholding of 7,05,64,656 equity shares (22.77%) of the equity share capital of ICEM, has resulted in the company’s shareholding increasing to 17,19,55,887 equity shares representing 55.49% of ICEM’s equity share capital. Consequently, ICEM has become a subsidiary of the company with effect from December 24, 2024.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
