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.
Click here for free registration to World Cement
Read the article online at: https://www.worldcement.com/indian-subcontinent/03012025/ultratech-cement-limited-acquires-the-india-cements-limited/
You might also like
The World Cement Podcast - CleanTech & Venture Capital
Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.
Tune in to the World Cement Podcast on your favourite podcast app today.
