“Aditya Birla Group’s company, UltraTech Cement, is currently the number one company in the Indian cement market. The company that has acquired Ambuja and ACC and is now in the second position is Adani’s company, which is called ‘Adani Cement’.”
The Indian cement industry is witnessing intense competition between two major business groups: Adani and Birla. Currently, Birla holds the lead in this race, and they are now taking steps to further solidify their position as the top player in the market.
Birla Group’s UltraTech Cement is preparing to increase its stake in India Cements. According to an ET report, UltraTech plans to acquire the 28.42% stake held by India Cements’ Vice Chairman and Managing Director, N. Srinivasan. If this acquisition goes through, UltraTech’s stake in India Cements will rise to over 51%.
To facilitate this purchase, UltraTech may issue an open offer, valuing the shares at ₹400 to ₹430 each—about 8 to 15% above the current market price.
Earlier this year, UltraTech had already acquired a stake from Radha Krishna Damani in India Cements. It is reported that discussions for buying Srinivasan’s stake also began around that time.
Currently, Adani Group, which recently acquired Ambuja and ACC Cement, is positioned as the second-largest player in the cement sector. UltraTech Cement is now focusing on advancing this proposed deal, with an official announcement expected soon. The deal might cost UltraTech around ₹7,000 crore.
