UltraTech Buys 8.69% Stake in Star Cement for Rs 8.51 Bn

30 Dec 2024 CW Team

UltraTech Cement Ltd has acquired an 8.69 per cent stake in Star Cement Ltd from its promoter group for Rs 8.51 billion. The transaction, conducted via the block deal window, saw shares purchased at Rs 235 per share, as per an exchange filing on December 27. UltraTech clarified that the acquisition is a non-controlling minority stake in Star Cement.

Star Cement, headquartered in Meghalaya, reported a turnover of Rs 29.1 billion for the financial year 2024. The company holds a dominant 26.5 per cent market share in the northeastern cement market, supported by a grinding capacity of 7.7 million tonne per annum (MTPA) and clinker capacity of 6.1 MTPA. Its distribution network includes approximately 2,000 dealers and over 12,500 retailers. Premium sales account for 10.6 per cent of the company’s overall sales.

In addition to this stake acquisition, UltraTech recently acquired a controlling 32.72 per cent stake in India Cements, triggering an open offer priced at Rs 390 per share. The deal made India Cements a subsidiary of UltraTech, adding 14.5 million tonne (mn t) to UltraTech’s production capacity.

Star Cement has also been expanding its resource base and operations. In the September quarter, the company emerged as the preferred bidder for six limestone blocks in Rajasthan’s Beawar district, with estimated geological reserves of 63.9 mn t spread across 95.68 hectare. Additionally, the company is setting up new units in Silchar and Jorhat districts of Assam, with a planned capital expenditure of Rs 3.80 billion for the second half of the financial year.

The strategic acquisition by UltraTech further consolidates its position in the Indian cement market while providing exposure to Star Cement’s strong presence in the north-eastern region.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..