UltraTech Cement Limited — JV/Acquisition, 27-12-2024: Acquisition

UltraTech Cement will invest up to Rs. 851 crores to acquire a non-controlling minority stake of approximately 8.69% in Star Cement Limited by purchasing up to 3.70 crore shares at a maximum price of Rs. 235 each. This strategic move aims to enhance market positioning amid ongoing industry consolidation. Star Cement, incorporated in November 2001, reported a turnover of Rs. 2,910.66 crores for FY24, and the acquisition is expected to be completed within a month. This investment reflects UltraTech's commitment to expanding its footprint in the cement sector and potentially unlocking synergies.