Ultratech receives a show-cause notices from CCI over its proposed acquisition of India Cements; the company is confident in the merits of its case and will take necessary steps to address any concerns raised.

Ultratech Cement has received a notice from the Competition Commission of India (CCI) regarding its proposed acquisition of India Cements. The notice was issued under Section 30(2) of the Competition Act, 2002, which requires the CCI to conduct a detailed investigation into the proposed deal. Ultratech Cement has been given 30 days to respond to the notice and provide additional information. The company has stated that it is “confident of the merits of our case” and is willing to cooperate with the CCI. The proposed acquisition would see Ultratech Cement acquiring a 50.1% stake in India Cements, which would give it a significant presence in the southern region of India. The deal is still pending regulatory approval and is expected to be completed in the coming months.