UltraTech Cement Incorporates Associate UHG Holdings IFSC

UltraTech Cement Limited has announced the incorporation of its associate company, UHG Holdings IFSC Private Limited, in GIFT City, Gujarat. Incorporated on August 20, 2026, UHG Holdings is a joint venture between UltraTech Cement (41% stake), Hindalco Industries Limited (50% stake), and Grasim Industries Limited (9% stake). The entity is established to strengthen the company's business and operational network, with its primary objective being to engage in activities related to aircraft, ships, and other modes of transportation within the IFSC jurisdiction. The incorporation is subject to IFSCA approval, and the entity is not yet operational, hence turnover is not applicable.