UltraTech Cement Limited acquires The India Cements Limited
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
UltraTech Cement has completed the acquisition of 10,13,91,231 equity shares representing 32.72% of the equity share capital of The India Cements Limited (“ICEM”), in accordance with Regulation 22(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
This, together with the existing shareholding of 7,05,64,656 equity shares (22.77%) of the equity share capital of ICEM, has resulted in the Company’s shareholding increasing to 17,19,55,887 equity shares representing 55.49% of ICEM’s equity share capital.
Consequently, UltraTech has acquired sole control of ICEM and has become of the promoter of ICEM. ICEM has now become a subsidiary of the Company.
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Read the article online at: https://www.worldcement.com/indian-subcontinent/03012025/ultratech-cement-limited-acquires-the-india-cements-limited/
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