Ultratech Cement to acquire 100% stake in National Limestone Company

21 Jan 2022 , 10:14 AM

Ultratech Cement Limited has executed a Share Purchase Agreement for acquiring 100% equity shares in National Limestone Company Private Limited, subject to receipt of applicable regulatory approvals. The equity shares will be acquired at a price of Rs23cr.

The Company is a private limited company engaged in the business of carrying out mining activities. The objective of the acquisition is to access limestone mining reserves for the operations of the company,” the company said in a filing on Thursday.

At around 10.16 am, UltraTech Cement Ltd was trading at Rs7,419.45 per piece down by Rs35.45 or 0.48% from its previous closing of Rs7,454.90 per piece on the BSE.

The scrip opened at Rs7,448 and has touched a high and low of Rs7,449.75 and Rs7,381.85 respectively.