News > UltraTech Cement pays high premium to acquire majority stake in India Cements

UltraTech Cement pays high premium to acquire majority stake in India Cements

UltraTech Cement Ltd.'s acquired 32.72% from the promoters of India Cements at steep premium of $120.76 per tonne. Post this acquisition, UltraTech Cement's will have majority shareholding in India Cements at 55.52%. For the 32.72% acquisition of India Cements approved today, UltraTech Cement Ltd. will pay Rs 3,954 crore at Rs 390 per share for the promoter stake, and will make an open offer at Rs 390 per share to minority shareholders.