India Cements

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.

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.

India Cements plans to invest ₹1,500-1,600 crore to refurbish its vintage cement factories to improve efficiency. The company has engaged FLSmidth and Krupp Polysius for the project, which may take 15-18 months.

The India Cements Limited is seeking environmental clearance to expand its cement plant at Chilamkur, Andhra Pradesh, increasing clinker production from 1.485 to 3.65 MTPA and cement from 1.65 to 5.5 MTPA, with a new unit and a 50 MW coal-based captive power plant. The project is valued at Rs 900 crore.

India Cements Ltd is planning to expand its cement production capacity at Chilamkur in Yerraguntla, YSR Kadapa district, Andhra Pradesh. The project involves increasing clinker capacity from 1.485 MTPA to 3.485 MTPA and cement capacity from 1.65 MTPA to 5.00 MTPA by installing a new unit.