UltraTech Cement Limited — Board Meeting, 27-12-2024: Outcome of Board Meeting

UltraTech Cement Limited has announced a board meeting to discuss acquiring a non-controlling minority stake of up to 3.70 crore equity shares in Star Cement Limited at a price not exceeding Rs. 235 per share. The total investment could reach up to Rs. 851 crores. This acquisition, which represents around 8.69% of Star Cement, is aimed at enhancing UltraTech's position in the cement industry. Star Cement reported a turnover of Rs. 2,910.66 crores for the fiscal year ending March 2024. The completion of this acquisition is anticipated within a month.