UltraTech Cement Bolsters Presence with Strategic Stake in Star Cement

UltraTech Cement is set to acquire an 8.69% minority stake in Star Cement from the Chamaria family for up to Rs 851 crore. This strategic move follows UltraTech’s acquisition of India Cements and aims to reinforce its market position amid strong competition from Adani Group’s Ambuja Cement.

In a strategic move, UltraTech Cement is poised to acquire an 8.69% minority stake in Star Cement, purchasing shares from the Meghalaya-based company's promoter, the Chamaria family, for up to Rs 851 crore. The transaction is part of UltraTech’s expansion strategy in a bid to reinforce its market dominance.

This acquisition follows the recent securing of a controlling interest in India Cements by the Aditya Birla Group subsidiary. The company is aggressively expanding its reach and capacity amidst stiff competition from Adani Group's Ambuja Cement, a major industry player.

Star Cement, noted for its dominance in north-eastern India, recently unveiled plans to expand its capacity with a two-million-ton greenfield plant in Assam, aiming for a 15 MTPA capacity in the future. With UltraTech’s strategic investment, the cement giant continues to strengthen its foothold in the growing Indian market.

(With inputs from agencies.)