UltraTech Cement has successfully acquired the cement business of Kesoram Industries Limited, marking a strategic entry into the southern markets. The UltraTech Board, during its meeting on Thursday, provided the necessary approval for the implementation of the Kesoram demerger to UltraTech. Additionally, the board sanctioned a comprehensive scheme designed to benefit both shareholders and creditors. Although the financial specifics of the transaction remain undisclosed at this time.
UltraTech Cement Limited is the flagship cement company within the esteemed Aditya Birla Group. Functioning as a robust force in building solutions, the company boasts a substantial valuation of USD 7.9 billion. UltraTech holds a significant market presence in India’s white cement sector. On a global scale, excluding China, UltraTech secures its position as the world’s third-largest cement producer.
The company’s extensive business operations extend across multiple countries, including the United Arab Emirates, Bahrain, Sri Lanka, and India.
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