Ultratech Cement bought this company for Rs 235 crore, keep an eye on the stock

UltraTech Cement Limited, the leading cement company of Aditya Birla Group, has made a big announcement today. The company has informed in the exchange filing that it will acquire Wonder Wallcare Private Limited.

According to the information given by the company, this deal will not exceed 235 crores. The company has signed the Share Purchase Agreement with the existing shareholders of Wonder Wallcare.

The deal will be completed in 90 days
The Board of Directors of UltraTech Cement approved the acquisition in a meeting held today. After completion of regulatory approvals and other formalities, the deal is likely to be completed within the next 90 days. After this acquisition, Wonder Wallcare will become a wholly-owned subsidiary of UltraTech Cement.

Advanced manufacturing plant in Nathdwara The acquisition will provide UltraTech Cement access to Wonder Wallcare's advanced manufacturing plant located in Rajsamand-Nathdwara, Rajasthan. The plant has a capacity of 6 lakh metric tonnes of putty and related production annually. The plant was completed in 2022-23 and is one of the largest single-location putty manufacturing sites in India. Also, the plant is located close to high quality raw material reserves and adjacent to UltraTech's existing putty manufacturing plants in Rajasthan. Hence, there is immense potential for increasing production capacity in the future. Capacity will be strengthened With this acquisition, UltraTech Cement plans to significantly expand its putty and other related products business.

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