UltraTech Cement Limited entered into asset purchase agreement to acquire 1.1 MTPA Grinding Unit, Parli Vaijnath from The India Cements Limited for INR 3.2 billion.

UltraTech Cement Limited (NSEI:ULTRACEMCO) entered into asset purchase agreement to acquire 1.1 MTPA Grinding Unit, Parli Vaijnath from The India Cements Limited (NSEI:INDIACEM) for INR 3.2 billion on April 20, 2024. Under the terms, INR 3.07 billion will be paid shortly and the balance INR 80 million will be paid within 9 months from the date of agreement. The transaction is expected to close on April 26, 2024.

The transaction has been approved by board of The India Cements and UltraTech Cement.