India Cements shares surge 11% on CCI nod for UltraTech's Rs 7,000-crore deal

India Cements shares surge 11% on CCI nod for UltraTech's Rs 7,000-crore deal

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26 Aug, 2025 12:21

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India Cements share price surged nearly 11 percent in December 23 trade after the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal.

The CCI cleared the deal on December 20, wherein billionaire Kumar Mangalam Birla-promoted UltraTech Cement will acquire a majority stake in India Cements Ltd.

The key approval comes less than two weeks after the regulator had issued a show cause notice to UltraTech seeking clarification on the proposed deal, that will help consolidate its market lead amid rising competition posed by Adani group, which is scaling up capacity with acquisitions.

CCI approves UltraTech Cement’s acquisition of India Cements

The news led to sharp uptick in the shares of the company after the market opened on Monday with India Cements share price rising up to Rs 376.20 per share on the NSE, jumping 10.92 percent. The scrip opened with a gain of of 6.74 percent in today's trading session.

Meanwhile, shares of UltraTech Cement traded flat after the deal quoting at Rs 11,392.95 per share, down 0.26 percent.

"The proposed combination envisages UltraTech Cement Ltd's (UltraTech/acquirer) acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd (India Cements/target) from the promoters and members of the promoter group of India Cements and Sri Saradha Logistics Pvt Ltd," CCI said in a release.

The fair trade regulator also granted its clearance to UltraTech Cement to acquire up to 26 per cent of the paid-up equity share capital of India Cements by way of an open offer, it added.

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