UltraTech Cement Limited — JV/Acquisition, 24-12-2024: Acquisition

UltraTech Cement has acquired a 26% stake in Clean Max Sapphire Private Limited for up to ₹45.77 Crore (Cr). This strategic investment aims to fulfill the company's green energy requirements, optimize energy costs, and comply with regulatory mandates for captive power consumption. Clean Max specializes in renewable energy generation and transmission, specifically through a 55 MW wind-solar hybrid power project located in Karnataka. The acquisition is expected to enhance UltraTech's operational efficiencies while supporting its sustainability goals. Completion of the deal is anticipated within 180 days.