Sajjan Jindal-led JSW Cement has begun evaluating acquisition of the promoter stake in Orient Cement Ltd (OCL) from CK Birla, said people aware of the development, amid a consolidation wave in the sector that’s seen the...
India Cements buy to bolster UltraTech’s hold over South
UltraTech Cement’s acquisition of a controlling stake in Chennai-headquartered India Cements will not only help in staying ahead in the highly competitive sector but also delay efforts of the Adani Group to catch...
Ultratech to buy 33% stake in India Cements
The Board of Directors of Birla group-owned UltraTech Cements approved the purchase of 32.72% equity stake of the promoters & their associates in India Cements Limited at a board meeting held today. ET first broke...
Kumar Birla re-enters race to buy Orient Cement to consolidate Ultratech’s Southern push
Kumar Mangalam Birla flagship UltraTech is in advanced negotiations with the promoter of Orient Cement Ltd (OCL), his uncle CK Birla, after restarting talks in recent weeks, amid intensifying consolidation efforts in...
UltraTech buys 23% stake in India Cements
UltraTech Cement has acquired a 23% stake in India Cements for around Rs 1,900 crore, preventing potential future bids for the leading peninsular manufacturer, as the race intensifies to control capacities in a highly...
Ambuja Cements board approves merger of Adani Cementation with company
Adani group-owned Ambuja Cements said its board has approved the merger of Adani Cementation, which is now a subsidiary of Adani Enterprises. After the approval of the Scheme of Amalgamation of Adani Cementation, after...
Board of UltraTech Cement approves acquisition of 23% stake in India Cements
At meeting held on 27 June 2024. The Board of UltraTech Cement at its meeting held on 27 June 2024 has approved making a financial investment to purchase upto 7.06 crores equity shares of India Cements at a price of...
UltraTech Cement revises offer, to acquire 25 pc of UAE-based RAKWCT
Almost a month after making an offer to acquire 31.6 per cent in UAE-based RAKWCT, Aditya Birla group firm UltraTech Cement on Tuesday said it has revised the deal to 25 per cent. UltraTech had on May 27 said it had...
Promoters Ambuja Cements, Ravi Sanghi to sell 3.52% stake in Sanghi Industries
Sanghi Industries’ promoters Ambuja Cements and Ravi Sanghi will sell stakes in the company via offer for sale (OFS), the cement manufacturer said on Tuesday in an exchange filing. The promoters proposed to sell...
Ambuja Cements’ Penna acquisition could take time to bear fruit
With an eye on the southern markets, Ambuja Cements Ltd last week announced plans to acquire Hyderabad-based Penna Cement Industries Ltd. Penna has a cement manufacturing capacity of 14 million tonnes per annum...
Ambuja cements deal to acquire Hyderabad-based Penna
Adani Group unit Ambuja Cement is to acquire Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, adding to its capacity and market share in southern India. Mumbai-headquartered Ambuja Cement will...
Bankruptcy court admits ICICI Bank’s insolvency resolution plea against Jaiprakash Associates
The bankruptcy court in Allahabad admitted Jaiprakash Associates Ltd (JAL) for corporate insolvency almost six years after ICICI Bank filed an application. The tribunal, while admitting the company under the Corporate...
