UltraTech Cement Limited — JV/Acquisition, 20-12-2024: Acquisition

UltraTech Cement Limited is set to acquire 10,13,91,231 equity shares, representing 32.72% of The India Cements Limited's equity share capital from promoters and other shareholders, with an additional open offer for up to 8,05,73,273 equity shares, constituting 26% of the target's capital, at Rs. 390 per share. The acquisition and open offer have received unconditional approval from the Competition Commission of India. This strategic move aims to strengthen UltraTech's market position and expand its footprint in the cement sector, potentially enhancing its operational efficiency and shareholder value.