Ultratech Cement to Acquire 55.49% Stake in India Cements Ltd.

Ultratech Cement Limited is set to acquire a significant stake in India Cements Limited. The acquisition will be through a Primary Acquisition of 10,13,91,231 equity shares, which constitutes 32.72% of the paid-up equity share capital of the Company. Upon completion of the acquisition, Ultratech Cement Limited will hold 55.49% of the paid-up equity share capital of India Cements Limited, making it a subsidiary of Ultratech Cement Limited. The transaction is subject to the provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and will require an Open Offer by Ultratech Cement Limited.