UltraTech’s India Cements Buyout Under CCI Scrutiny
Cement

UltraTech’s India Cements Buyout Under CCI Scrutiny

The Competition Commission of India (CCI) is reviewing UltraTech Cement’s proposed acquisition of India Cements. UltraTech Cement announced in an exchange filing that it received communication from the CCI under Section 29 (1) of the Competition Act, 2002 regarding the acquisition.

UltraTech is confident about the merits of the deal, noting that the southern grey cement market, where India Cements operates, remains highly competitive and fragmented, with over 35 manufacturers.

In July, UltraTech announced the acquisition of a 32.72% stake in India Cements from promoters and associates, paying Rs 3,954 crore for the 28.42% stake from the promoters and 4.30% from Sri Saradha Logistics. The acquisition is subject to regulatory approvals.

UltraTech has assured that any vertical relationships between the two companies are non-exclusive and at arm’s length, in the ordinary course of business.

The Competition Commission of India (CCI) is reviewing UltraTech Cement’s proposed acquisition of India Cements. UltraTech Cement announced in an exchange filing that it received communication from the CCI under Section 29 (1) of the Competition Act, 2002 regarding the acquisition. UltraTech is confident about the merits of the deal, noting that the southern grey cement market, where India Cements operates, remains highly competitive and fragmented, with over 35 manufacturers. In July, UltraTech announced the acquisition of a 32.72% stake in India Cements from promoters and associates, paying Rs 3,954 crore for the 28.42% stake from the promoters and 4.30% from Sri Saradha Logistics. The acquisition is subject to regulatory approvals. UltraTech has assured that any vertical relationships between the two companies are non-exclusive and at arm’s length, in the ordinary course of business.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement