CCI approves UltraTech Cement's acquisition of The India Cements
The Competition Commission of India approved UltraTech Cement's acquisition of a controlling stake in The India Cements on 20 December 2024.
Summary
The Competition Commission of India (CCI) approved UltraTech Cement Limited's acquisition of The India Cements Limited on 20 December 2024. The combination covers UltraTech's purchase of 32.72% of India Cements' paid-up equity share capital from its promoters, members of the promoter group and Sri Saradha Logistics Private Limited, and of up to 26% more through an open offer. UltraTech, a subsidiary of Grasim Industries, makes grey cement, white cement, ready-mix concrete, clinker and building products, while the core business of India Cements is grey cement and ready-mix concrete.
Key facts
- Approved by
- Competition Commission of India, 20 December 2024
- Acquirer
- UltraTech Cement Limited (subsidiary of Grasim Industries)
- Target
- The India Cements Limited
- From promoters
- 32.72% of paid-up equity share capital
- Open offer
- Up to 26% of paid-up equity share capital
Practice MCQs 2 questions
What share of The India Cements' paid-up equity did UltraTech propose to acquire from the promoters and Sri Saradha Logistics, as approved by the CCI in December 2024?
Show answer
Correct answer: A — 32.72%
PIB (CCI): the combination envisages UltraTech's acquisition of 32.72% of India Cements' paid-up equity share capital from the promoters and promoter group and Sri Saradha Logistics, and up to 26% through an open offer.
UltraTech Cement Limited, whose acquisition of The India Cements was approved by the CCI, is a subsidiary of:
Show answer
Correct answer: C — Grasim Industries
PIB (CCI): UltraTech is a public listed company and a subsidiary of Grasim Industries Limited.