UltraTech Cement Acquires India Cements: A Strategic Move in the Southern Cement Market
| Aspect | Details |
|---|---|
| Why in the news? | CCI Approves UltraTech's ₹3,954 Cr India Cements Deal |
| Acquisition Value | ₹3,954 crore |
| Stake Acquired | 32.72% (from promoters and associates) |
| Share Purchase Price | ₹390 per share |
| Promoters Involved | N Srinivasan, Chitra Srinivasan, Rupa Gurunath, SK Asokh Baalaje, and Sri Saradha Logistics |
| Open Offer Details | - Shares Offered: Up to 8.05 crore equity shares - Offer Price: ₹390 per share - Total Value: ₹3,142.35 crore (if fully subscribed) |
| Industry Significance | - Strengthens UltraTech's position in the southern cement market - Positions UltraTech as a global leader in cement production |
| Target Company | India Cements Ltd (ICL) |
| Strategic Rationale | - Expand presence in southern cement market (Tamil Nadu) - Increase market share and strengthen supply chain |