UltraTech Cement to acquire Kesoram Industries' cement business via demerger

UltraTech Cement's board approved a scheme to acquire Kesoram Industries' cement business, which includes two integrated cement units with total capacity of 10.75 mtpa and a packing plant. The transaction is subject to regulatory approvals and expected to close within 9-12 months.

“The transaction will provide UltraTech with the opportunity to extend its footprint in the highly fragmented, competitive, and fast growing Western and Southern markets in the country.”ultratechcement.com

• 4 sources
• ultratechcement.comDemerger of Cement Business of Kesoram Industries Limited into UltraTech Cement LimitedNov 30, 2023
• moneycontrol.comUltraTech to take over Kesoram Industries’ cement biz; sources peg enterprise value at Rs 7,600 crRachita Prasad, Deborshi ChakiNov 30, 2023
• timesofindia.indiatimes.comUltratech: UltraTech to Buy Building Materials Business of Kesoram in 7,600 Crore Deal | Mumbai News - The Times of IndiaDec 1, 2023
• cemnet.comUltraTech Cement to acquire Kesoram Industries Ltd's demerged cement businessDec 1, 2023

Summarized from public sources; check the original articles before acting on it.