UltraTech to acquire additional 32.72% stake in India Cements for ₹3,954 crore

UltraTech Cement entered a share purchase agreement to buy a 32.72% stake in India Cements for ₹3,954 crore, increasing its total stake to 55.49% and making India Cements a subsidiary.

“Post this financial investment, the promoter group approached us as they wanted to sell their holding in the company, and we found it appropriate to acquire their stake in the company.”thehindu.com

• 5 sources
• thehindu.comUltraTech enters into a pact with India Cements to buy additional 32.72% stake for ₹3,954 crore - The HinduN AnandJul 28, 2024
• thehindubusinessline.comUltraTech Cement: Acquires 32.7% stake in India Cements - The HinduBusinessLineG BalachandarJul 29, 2024
• etnownews.comIndia Cements delisting on cards? What KM Birla-led UltraTech said post Rs 3,954 cr acquisition deal - Markets | ET NowVarun YadavJul 29, 2024
• constructionworld.inIndia Cements addresses UltraTech merger speculationSep 26, 2024
• indiancementreview.com

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