# NCLT approves UltraTech Cement's acquisition of Kesoram Cement

The National Company Law Tribunal, Mumbai Bench, sanctioned the Composite Scheme of Arrangement between Kesoram Industries Limited and UltraTech Cement Limited, approving the merger. The Competition Commission of India had approved the scheme on March 19, 2024.

- Type: Acquisition
- Announced: 2024-11-26
- Where: India
- Value: $840.0M (70.0B INR)
- Status: completed
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ultratech Cement](https://endata.com/companies/16256.md) (acquirer)
- [India Cements](https://endata.com/companies/35089.md) (target)
- [Kesoram Industries](https://endata.com/companies/74079.md) (target)

## Sources

- [legal.economictimes.indiatimes.com](https://legal.economictimes.indiatimes.com/news/litigation/nclt-approves-ultratechs-acquisition-of-kesoram-cement/115706980), 2024-11-26: "The tribunal concluded that the Company Scheme Petition is fair, reasonable, and not in violation of any laws or public policy."
- [businesstoday.in](https://www.businesstoday.in/industry/story/n-srinivasan-resigns-as-ceo-md-of-india-cements-after-cci-clears-rs-7000-cr-ultratech-deal-458495-2024-12-25), 2024-12-25: "The proposed combination envisages UltraTech Cement Ltd's acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd from the promoters."
- [news.abplive.com](https://news.abplive.com/business/india-cements-ceo-n-srinivasan-resigns-as-ultratech-rs-7000-crore-deal-gets-cci-approval-1739868), 2024-12-26: "UltraTech Cement has acquired full control of the company and has become its new promoter."
- [worldcement.com](https://www.worldcement.com/indian-subcontinent/03012025/ultratech-cement-limited-acquires-the-india-cements-limited/), 2025-01-03: "UltraTech has acquired sole control of ICEM and has become of the promoter of ICEM."

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