Photo for representation. File photo
New Delhi, June 27
The country’s leading cement maker UltraTech on Thursday said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd for over Rs 1,900 crore in two tranches.
UltraTech Cement has acquired 6,02,48,983 equity shares of India Cements, aggregating to 19.44% stake at a price of up to Rs 267 per share, the Aditya Birla Group flagship firm said in a regulatory filing. The value of the first transaction at the share price of Rs 267 per share is pegged at Rs 1,608.64 crore.
Join Whatsapp Channel of The Tribune for latest updates.
Most Read In 24 Hours
Don't Miss
View All
Top News
Reasi bus terror attack: NIA conducts searches at multiple locations in Jammu and Kashmir’s Rajouri
Searches lead to seizure of various items showing linkages b...
Jay Shah announces Rs 125 crore prize money for Team India
Says this team has silenced critics
After Virat Kohli and Rohit Sharma, Ravindra Jadeja also retires from T20 Internationals
One of the world's finest fielders, Jadeja says he will cont...
Rohit Sharma does a ‘Djoker act’, savours taste of Kensington Oval pitch
In an era of content generation, the Indian captain provides...
Couple in 'illicit relationship' assaulted in West Bengal, video goes viral
The man seen in the video beating up the two with a bamboo s...
