# 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.

- Type: Acquisition
- Announced: 2023-11-30
- Where: Sedam (Karnataka), Basantnagar (Telangana), Solapur (Maharashtra), India
- Value: $912.0M (76.0B INR)
- Status: announced
- Capacity: 10.75 mtpa cement
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ultratech Cement](https://endata.com/companies/16256.md) (acquirer)
- [Kesoram Industries](https://endata.com/companies/74079.md) (target)

## Sources

- [ultratechcement.com](https://www.ultratechcement.com/corporate/media/press-releases/demerger-of-cement-business-of-kesoram-industries-limited-into-ultratech-cement-limited), 2023-11-30: "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."
- [moneycontrol.com](https://www.moneycontrol.com/news/business/markets/kesoram-industries-to-merge-its-cement-biz-into-ultratech-cement-11835031.html), 2023-11-30: "The acquisition will help UltraTech consolidate its position as the market leader"
- [timesofindia.indiatimes.com](https://timesofindia.indiatimes.com/city/mumbai/ultratech-to-buy-building-materials-business-of-kesoram-in-7600-crore-deal/articleshow/105641192.cms), 2023-12-01: "Kumar Mangalam Birla’s UltraTech Cement will buy the building materials business of Kesoram Industries for an enterprise value of Rs 7,600 crore."
- [cemnet.com](https://www.cemnet.com/News/story/176015/ultratech-cement-to-acquire-kesoram-industries-ltd-s-demerged-cement-business.html), 2023-12-01: "The Board of Directors of UltraTech... have approved a Composite Scheme of Arrangement to demerge Kesoram's cement business into Ultra Tech Cement."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.