UltraTech Cement to acquire Kesoram Industries Ltd's demerged cement business

Kesoram Industries Ltd has decided to demerge its cement business and has approached UltraTech Cement Ltd in relation to the same. 

The Board of Directors of UltraTech, after considering the recommendation and report of the Audit Committee and the Committee of Independent Directors, at its meeting held on 30 November 2023, considered Kesoram’s proposal and have approved a Composite Scheme of Arrangement to demerge Kesoram's cement business into Ultra Tech Cement.