Moving towards world trend, India will have dominant 3-4 companies controlling substantial cement capacity. Continuing the trend, recently, the Board of Directors of UltraTech approved the purchase of 32.72% equity stake of the promoters & their associates in India Cements Limited.
UltraTech Cement Limited ("Ultratech") is the cement flagship company of the Aditya Birla Group. UltraTech is the third largest cement producer in the world, outside of China, with a total Grey Cement capacity of 154.86 MTPA. The equity shares of Ultratech are listed on nationwide bourses.
India Cement Limited ("India Cement") is engaged in manufacturing of cement. India Cements has a total capacity of 14.45 mtpa of grey cement. Of this, 12.95 mtpa is in the South (particularly Tamil Nadu) and 1.5 mtpa is in Rajasthan.
The equity shares of India Cement are listed on nationwide bourses.
The Recent Transaction:
Mr. Radhakrishna Damani, along with his brother and associate companies, held a 23% stake in India Cements. They began gradually increasing their stake in the company after 2015. Though not clearly stated, Mr. Damani tried hard to get control over India Cements.
Ultratech & India Cement joined hand in April 2024, whereby India Cement announced selling their 1.2 mtpa grinding unit located in Nashik to Ultratech Cement for a consideration of INR 315 crore.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Raymond Group continues Segregation of its Business Verticals
After successful demerger of \"Lifestyle Business,\" Raymond Limited announced yet another restructuring to unlock further value for stakeholders.
Ultratech Cements adds India Cement in its shopping cart
India's Cement Industry is poised for consolidation. In recent past we have seen multiple large & small acquisitions in cement segment for consolidating positions.
Valor Estate Limited: "Diversification" to "Sepration" of Hospitality Business
“From investments in hospitality business, the demerger transaction will enable VEL to start its construction in hospitality”
SIEMENS Energy to be a separate entity in alignment with global strategy
Siemens AG announced its Vision 2020+ which included the spin-off of its Gas & Power [G&P) i.e., Energy Business into Siemens Energy.
Arvind Group separates its Advanced Material Business for independent growth trajectory
Advanced Material Business (AMD) of Arvind Limited focuses on advanced materials and caters to customer needs across the textile value chain, including specialty yarns, fabrics, and ready-made products.
Merger for bail-out from debt obligation
Ind Swift Limited (herein after also referred to as 'ISL' or 'Transferor Company') is engaged in the business of manufacturing of Pharmaceutical Products.
Batliboi Ltd. merging its associate company
Batliboi Limited has a history of collaborations with various foreign technical partners and has subsidiaries like Hydraulic & General Engineers Ltd. and Batliboi International Ltd. In March 2024, the board of Directors of Batliboi Limited accorded their approval for the merger of promoter owned private company with itself.
TVS Motors issuances of convertible preference shares as bonus instead of dividend
Recently, well known auto manufacturer announced the issuance of preference shares as a bonus to all equity shareholders.
Aditya Birla Fashion & Retails Scheme to undo its consolidation
Corporate restructuring saga continues for Aditya Birla Group.
Advent International to combine its listed & private entity business
Recently, Advent International announced the merger of its privately held pharma company into recently acquired listed pharma company.
