India's largest cement maker UltraTech Cement on Sunday said it would acquire a 32.72 per cent stake in India Cements from its promoters and their associates. The deal, valued at ₹3,954 crore, will trigger an open offer, which, if fully subscribed, will raise the total cost for UltraTech to ₹7,100 crore.
After signing the share-purchase agreements and obtaining regulatory approvals, UltraTech will pay ₹3,954 crore at ₹390 per share for the stake in India Cements, the Aditya Birla Group-owned company said in a statement on Sunday. While this share purchase will push up UltraTech's stake to over 55 per cent in India Cements, it will trigger a mandatory open offer at the same price of ₹390 per share, which is at a 4.11 per cent premium to India Cements closing price on Friday. "The open offer will be conducted subsequently after obtaining all approvals," UltraTech said.
هذه القصة مأخوذة من طبعة July 29, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة July 29, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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