UltraTech Cement To acquire 9% Stake In Star Cement In an exchange filing, UltraTech Cement said that the shares were acquired at a price of INR 235 per share during the block deal window.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
UltraTech Cement Limited has announced the acquisition of 8.69 per cent stake in Star Cement Limited from its promoter group for INR 851 crore. In an exchange filing, the company said that the shares were acquired at a price of INR 235 per share during the block deal window. Star Cement, a cement company in North-Eastern India, has a production capacity of about 5.7 million tonnes per annum (MTPA). The company is currently expanding its capacity to 9.7 MTPA by 2025-26 and plans to increase it to 12 MTPA by 2027. Star Cement had reported an overall turnover of INR 2,910 crore in financial year 2024.
In the north-eastern market, Star Cement commands a 26.5 per cent market share. Premium sales account for 10.6 per cent of overall sales, according to its investor presentation it shared post the September quarter.
Earlier this week, UltraTech also completed the acquisition of a 32.72 per cent stake in India Cements. With this acquisition, India Cements has become a subsidiary of UltraTech, adding 14.5 million tonnes to its production capacity.
Kumar Mangalam Birla, chairman, Aditya Birla Group, said, "UltraTech Cement's investments over the years, both organic and inorganic, have been designed to propel India to become a building solutions champion globally. Every investment in a core sector like cement accelerates economic activity and drives progress. These investments have also facilitated India's nationwide infrastructure upgrade, powering our country's growing need for housing, roads, and other vital infrastructure. This, in turn, has had a tremendous impact on the lives and aspirations of people."
