UltraTech Cement receives NCLT nod to acquire Kesoram's cement assets

The deal will give a boost to the presence of the Aditya Birla group company as the assets are mostly in the southern markets

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26 Aug, 2025 12:21

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India’s largest cement manufacturer UltraTech Cement on November 26 said the National Company Law Tribunal (NCLT) has approved its acquisition of Kesoram Industries Ltd worth Rs 7,600 crore.

The cement firm had announced a share purchase agreement with Kesoram in November last year to acquire its assets. The deal will give a boost to the presence of the Aditya Birla group company as the assets are mostly in the southern markets.

The company had earlier announced that it will make a capital expenditure of around Rs 400-500 crore on Kesoram's cement facilities for efficiency improvements.

Meanwhile, the board approved the allotment of unsecured non-convertible debentures (NCDs) to raise Rs 1,000 crore on a private placement basis.

The tenure of the bonds is 10 years and is offered on a coupon rate of 7.22 percent, the company said.

UltraTech Cement’s net profit in the September quarter declined by 36 percent to Rs 820 crore from Rs 1,280 crore a year ago. It’s revenue from operations in the second quarter slipped 2.3 percent to Rs 15,635 crore compared to Rs 16,012 crore in the same period of the previous financial year.