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UltraTech Cement to expand cement production capacity in domestic market

Friday, 01 Dec 2023
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UltraTech Cement's Board of Directors has approved a scheme of arrangement to acquire the cement business of Kesoram Industries in an all-stock deal to expand its production capacity and presence in the western and southern markets in India.

According to the deal, BK Birla Group flagship company Kesoram Industries has decided to demerge its cement business, comprising two integrated cement units in Karnataka and Telangana with a total installed capacity of 10.75 million tpa. The business will be merged into UltraTech Cement, the cement flagship company of the Kumar Mangalam Birla-led Aditya Birla Group.

On completion of the proposed merger of Kesoram’s cement business, UltraTech's total capacity will reach 149.14 million tpa, including its overseas operations. The proposed transaction will accelerate the company’s path to achieving its goal of 200 million tpa cement capacity in India.

This acquisition will increase UltraTech’s equity capital to Rs 294.66 crore. The gross enterprise value of the deal stands at around Rs 7,600 crore. The transaction is expected to be consummated within 9-12 months, subject to the above regulatory approvals.

 
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