UltraTech Cement receives green light from India’s Competition Commission to acquire a controlling stake in India Cements.

UltraTech Cement has received clearance from the Competition Commission of India (CCI) to acquire a majority stake in India Cements Ltd. The approval comes after UltraTech Cement’s proposal to acquire a 52.03% stake in India Cements was reviewed by the CCI. The deal is valued at around ₹50,000 crore (approximately $6.67 billion). The acquisition would further strengthen UltraTech Cement’s presence in the Indian cement market and increase its market share. India Cements is one of the largest cement companies in the country, with a significant presence in the southern region. The takeover would enable UltraTech Cement to expand its production capacity, improve its operational efficiency, and enhance its competitiveness in the market. The CCI’s approval is subject to certain conditions, including maintaining India Cements’ existing operations and compliance with local and national laws. The deal is expected to have a significant impact on the Indian cement industry, which is one of the largest in the world.