UltraTech Cement set to enhance the capability of domestic market

India’s number one cement venture and home building partner UltraTech Cement’s Board of Directors  has permitted a proposal of arrangement to get hold of the Kesoram Industries’s  cement business in an all-stock contract to develop its capacity, production ability and its occurrence in the markets of western and southern regions of India.

In accordance with the deal of scheme, the flagship company of Kesoram Industries, Birla Group has determined to break its cement business dealing, encompassing two integrated cement entities in the major states of India, namely Karnataka and Telangana with a whole installed capacity of 10.75 million tpa. The cement business will be combined into UltraTech Cement, the cement flagship company of Aditya Birla Group under the lead of Kumar Mangalam, Chairman of Aditya Birla Group.

Going on finishing point of the planned union of Kesoram’s cement business, the total capability of the company UltraTech will attain 149.14 million tpa, together with its operations in overseas. The transaction for planned scheme will speed up the path of the company to accomplish its goal of attaining the capacity of 200 million tpa in India.

Getting the hold of this acquisition will amplify the equity capital of UltraTech to reach Rs. 294.66 crore. The gross value of the enterprise with this deal set at roughly Rs. 7,600 crore. Subjected to the above approvals, the transaction is predicted to be accomplished within 9 to 12 months.