UltraTech Cement board approves 32.72% acquisition of India Cements

UltraTech Cement Ltd’s board has approved a series of transactions to acquire 32.72 per cent stake in India Cements Ltd.

Initially, in June, UltraTech purchased a 22.77 per cent stake in India Cements at Rs 268 per share.

In the latest move, UltraTech will acquire an additional 32.72 per cent stake from the promoters and their associates at Rs 390 per share, amounting to Rs 3,954 crore.