UltraTech Cement Ltd. issued non-convertible debentures on Tuesday, raising Rs 1,000 crore. According to an exchange filing, the board authorized the private placement allocation of unsecured redeemable NCDs. The bond has a 7.22% coupon rate and a 10-year maturity. Last week, the board authorized the issuance of fully paid, unsecured, listed, rated, redeemable, rupee-denominated, non-convertible, and non-cumulative debentures with a maximum value of Rs 3,000 crore in one or more tranches.
The cement manufacturer Aditya Birla Group recently announced receiving clearance from the National Company Law Tribunal for its purchase of Kesoram Industries Ltd. in addition to the NCDs issue. A deal to buy Kesoram’s cement assets was announced in November of last year by the biggest cement company in India.
UltraTech Cement Secures NCLT Approval for Kesoram Industries Acquisition
The National Company Law Tribunal (NCLT) has authorized UltraTech Cement’s Rs. 7,600 crore purchase of Kesoram Industries, the company stated on November 26. Last year, a share purchase agreement was used to start the transaction, which is primarily focused on cement businesses in southern India. The agreement is anticipated to strengthen UltraTech’s standing within the Aditya Birla Group in these markets. A further investment of Rs. 400–500 crore has been made by the company to update Kesoram’s cement facilities in order to increase productivity and efficiency.
Ultratech Cement Share Price
The share price of UltraTech Cement, a largecap on the BSE and a player in the cement industry, is currently 11035. Today, the stock has fluctuated, reaching a low of ₹10998.5 and a high of ₹11213.4. The shares have fluctuated between a low of ₹8582.7 and a high of ₹12138.25 over the last 52 weeks. Performance-wise, UltraTech Cement has returned -1% in a single day, -0.61% in the previous month, and -1.8% in the previous three months. The stock’s daily pivot level, as determined by technical analysis, is 11103.43. R1 is located at 11208.37, R2 is located at 11318.33, and R3 is located at 11423.27. The levels at 10993.47 on the support side are designated as S1.
