UltraTech Cement, India’s leading cement manufacturer, has acquired an 8.69% stake in Meghalaya-based Star Cement for up to ₹851 crore. The deal involves purchasing shares from some of Star Cement’s promoters and promoter group entities.
Star Cement, with a production capacity of 7.7 million tonnes per annum (MTPA), dominates the cement market in northeastern India and is expanding its footprint into West Bengal and Bihar. Incorporated in November 2001, the company reported a turnover of ₹2,910.66 crore in FY24.
UltraTech’s board approved the purchase of up to 3.7 crore equity shares at a price not exceeding ₹235 per share, excluding taxes and other levies. The acquisition follows UltraTech’s recent takeover of a controlling stake in India Cements Ltd, consolidating its presence in southern India.
UltraTech, a flagship company of the Aditya Birla Group, boasts an installed capacity of 156.66 MTPA of grey cement, cementing its position as the largest cement producer in the country.The company stands as India’s largest cement producer and one of the leading players globally. With an installed production capacity of 156.66 million tonnes per annum (MTPA) of grey cement, the company serves diverse markets across India, the UAE, Bahrain, and Sri Lanka.
UltraTech’s product portfolio includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and specialty concrete offerings designed to meet the varying needs of its customer base. Its extensive network comprises over 22 integrated plants, 27 grinding units, and seven bulk terminals, ensuring a robust supply chain and widespread market reach.
A pioneer in sustainability, UltraTech Cement is committed to reducing its carbon footprint and advancing green manufacturing practices. Through initiatives like the use of alternative fuels, renewable energy, and circular economy strategies, the company aims to align its operations with global sustainability goals.
Additionally, UltraTech continues to expand its footprint through strategic acquisitions, such as its recent investment in Star Cement and the acquisition of India Cements Ltd, reinforcing its leadership position in the industry. These efforts underscore UltraTech’s mission to drive innovation, efficiency, and sustainable growth in the cement sector.
