UltraTech Cement has announced the acquisition of a grinding unit from India Cements.
The Board of Directors greenlit the purchase during a meeting held on Saturday (April 20).The grinding unit, with a installed capacity of 1.1 million metric tonnes per annum (mtpa), along with a captive railway siding, is located in Parli, Maharashtra, the Aditya Birla Group cement major informed exchanges.The acquisition, valued at ₹315 crore, was formalised through an Asset Purchase Agreement between UltraTech Cement and The India Cements Limited.Earlier this month, the company completed 100-megawatt (MW) solar energy project under the Group Captive Scheme in Rajasthan.This was the company's first project to source power for its captive consumption from the inter-state transmission network.In a separate filing, the cement manufacturer also informed that it has received approval from the National Company Law Tribunal (NCLT) , Kolkata, on April 3, 2024, for the proposed scheme of amalgamation of UltraTech Nathdwara Cement and its wholly-owned subsidiaries (Swiss Merchandise Infrastructure and Merit Plaza) with the company.The shares of Ultratech Cement on Friday (April 19) settled 0.21% lower at ₹9,367.40 apiece on the BSE.
UltraTech Cement has announced the acquisition of a grinding unit from India Cements. The Board of Directors greenlit the purchase during a meeting held on Saturday (April 20).The grinding unit, with a installed capacity of 1.1 million metric tonnes per annum (mtpa), along with a captive railway siding, is located in Parli, Maharashtra, the Aditya Birla Group cement major informed exchanges.The acquisition, valued at ₹315 crore, was formalised through an Asset Purchase Agreement between UltraTech Cement and The India Cements Limited.Earlier this month, the company completed 100-megawatt (MW) solar energy project under the Group Captive Scheme in Rajasthan.This was the company's first project to source power for its captive consumption from the inter-state transmission network.In a separate filing, the cement manufacturer also informed that it has received approval from the National Company Law Tribunal (NCLT) , Kolkata, on April 3, 2024, for the proposed scheme of amalgamation of UltraTech Nathdwara Cement and its wholly-owned subsidiaries (Swiss Merchandise Infrastructure and Merit Plaza) with the company.The shares of Ultratech Cement on Friday (April 19) settled 0.21% lower at ₹9,367.40 apiece on the BSE.
