UltraTech Cement acquires 8.69 per cent minority stake in Meghalaya-based Star Cement for Rs 851 crore in cash, adding to Aditya Birla group’s buying spree

The development comes three days after the Aditya Birla group firm completed the acquisition of a controlling stake in India Cements Ltd, turning the south-based company into its subsidiary.

UltraTech Cement has announced an agreement to acquire a 26% equity stake in CleanMax Sapphire, a special-purpose vehicle (SPV) formed to cater to the company’s renewable energy needs. The deal, valued at Rs 457.

Star Cement expanding rapidly in north-eastern India, West Bengal, and Bihar with UltraTech acquiring minority stake.

UltraTech Cement acquires 8.69% stake in Star Cement for ₹851 crore, expanding its capacity through strategic acquisitions.

Though a minority stake, the investment in Star Cement, will add to UltraTech’s indirect exposure to India’s eastern markets. On its own, UltraTech operates 30.7 MTPA capacity in this region, with plans to take it to 41 MTPA by FY27.

UltraTech Cement has acquired an 8.69% stake in Star Cement, a Meghalaya-based cement producer, for up to Rs 851 crore. The deal strengthens UltraTech's presence in the north-eastern India market.

UltraTech Cement has acquired an 8.69% stake in Star Cement for Rs 851 crore, intensifying competition with Ambuja Cements in the cement industry.

By Hritam Mukherjee and Ashna Teresa Britto (Reuters) -UltraTech India's top cement maker will buy an 8.69% stake in Star Cement, it said on Friday, in a deal worth up to 8.51 billion rupees ($100 million) for a company that rival Adani Group was reportedly interested in acquiring.