UltraTech Cement has acquired Damani-group's stake in India Cements Ltd (ICL) through two block deals, according to a statement and stock exchange data.
ICL promoters, however, will continue to be the largest shareholder with a 28.42 per cent stake.
As per the block deal data on the BSE, UltraTech Cement bought a total of 7,05,64,656, amounting to a 22.77 per cent stake in India Cements.
The shares were purchased in the price range of Rs 265.05283.3, taking the combined transaction value to Rs 1,889.27 crore.
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