Ultratech Cement to off-load up to 6.49% of stake in India Cements
'The stake sale was approved the for upto 2,01,12,330 equity shares of India Cements, representing 6.49 per cent of the issued and paid-up equity share capital of ICEM, by way of an offer for sale through the stock exchange mechanism,' the statement read.
This development comes after Ultratech took over India Cements in July 2024.
At market close on August 20, Ultratech Cement's shares were priced at ₹ 12,872. The stock opened at ₹ 12,850, before hitting a high of ₹ 12,930 and seeing low of ₹ 12,765, during the trading day.
Speaking to shareholders on August 19, UltraTech Cement chairman Kumar Mangalam Birla said that the company will reach its target of 200 million tonnes per annum capacity a year ahead of its guidance of FY27.
'UltraTech is now well and truly poised to become the largest cement-selling company in the world, outside of China,' Birla said at the annual general meeting (AGM). The cement maker's capacity stood at 188.8 mtpa as of March 2025. This means the company will have to add 28.8 mtpa of organic capacity additions in FY26.
In the annual report, MD KC Jhanwar said Ultratech plans to invest ₹ 9,000-10,000 crore on capex in FY26.
UltraTech's expansion plans are expected to consolidate its market leadership and help it gain additional market share, analysts at Axis Securities said in a 22 July note. The company's growth is likely to be supported by strong demand, better pricing, upcoming capacity additions, ramp-up of recently commissioned plants, and the advantage of lower commodity costs, they said.
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