UltraTech Cement acquires 100% stake in Wonder WallCare

4 Apr 2025 , 07:44 AM

UltraTech Cement announced that it has received approval from the Board of Directors for acquisition of 100% stake in Wonder WallCare. The transaction is taking place at an enterprise value of ₹235 Crore. The company has inked a Share Purchase Agreement with Wonder WallCare’s existing shareholders.

The company said that it expects to complete the transaction within a period of 90 days. The completion is subject to necessary regulatory approvals and compliances. Company said that it will acquire 6.42 Crore shares of a face value of ₹10 each. The acquisition is in line with UltraTech’s strategy for expansion of its white and wall putty business.

This acquisition provides access to a new state-of-the-art manufacturing plant with a capacity of 6 lakh MT per annum for wall putty and related products at Rajsamand – Nathdwara, Rajasthan.

The plant is located at the pithead of large high-quality raw material reserves, and near the existing putty manufacturing facilities in Rajasthan. This plant was constructed in 2022-23, and is one of the largest single-location putty manufacturing sites in India.

The acquisition will allow the company to expand its putty and Value-Added products’ production capacity in the competitive and fragmented putty manufacturing market in India.

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