UltraTech will pay Rs 1,885 crore to purchase a 23% share in Chennai-based India Cements
UltraTech: On Thursday, UltraTech Cement announced it will acquire a 23% stake in Chennai-based India Cements (ICL). The Aditya Birla Group-owned company plans to purchase 70.6 million shares of India Cements at a price of up to Rs 267 per share, totaling Rs 1,885 crore. The board of directors approved a financial investment to purchase…