UltraTech To Raise Rs 50 bn Via Bonds And Declare Rs 240 Dividend

31 Jul 2026 CW Team

UltraTech Cement plans to raise Rs 5,000 crore (Rs 50 billion (bn)) through bonds in its largest rupee debt fundraise. The sale is in three tranches maturing in two-and-a-half years, three-and-a-half years and five years. Bankers said the company aims to complete the issue before the Reserve Bank of India monetary policy decision on August five.

The company is targeting Rs 1,500 crore (Rs 15 bn) from each of the two shorter tranches at annual coupons of 7.22 per cent and 7.23 per cent, and Rs 2,000 crore (Rs 20 bn) from the five-year tranche at 7.25 per cent. The structure is designed to match investor demand with staggered maturities.

The bonds carry a AAA rating from Crisil and bankers said they may draw interest from mutual funds seeking high-quality credit. In March 2025 the company raised Rs 1,000 crore (Rs 10 bn) each through three-year and five-year bonds at coupons of 7.34 per cent. UltraTech currently has Rs 3,500 crore (Rs 35 bn) outstanding, including Rs 500 crore (Rs 5 bn) due within a month.

The board declared a final dividend of Rs 240 per share, with both the ex-date and record date set for July 30, 2026. The announcement accompanied quarterly results in which the company reported a nearly 17 per cent rise in first-quarter profit. The reported Q1 net profit was Rs 2,599 crore (Rs 25.99 bn).

UltraTech is among more than 90 companies trading ex-date in the window between July 27 and July 31, 2026, where the combined cash payout stood at Rs 1,050.42 per share. Market participants said the company's scale and market position helped it absorb higher fuel costs linked to the West Asia conflict better than smaller rivals. The bond issue and dividend decision point to a continued focus on shareholder returns and liability management.

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