Aditya Birla Ultratech Star Cement Stake Acquisition Update | UltraTech took 8.7% more stake in Star Cement: Now the stake is 21.84%, Birla and Adani Group now have 36% share in the cement sector.
Aditya Birla Group company UltraTech has taken additional 8.7% stake in Star Cement. With this deal of Rs 851 crore, UltraTech’s stake in the cement sector increased to 21.84% and it is the third largest cement company in the world.
At the same time, Adani Group is at second position with 14.12% stake. That means only two corporate groups have 36% market share in this industry. By 2024, 11 merger-acquisition deals have been done in this sector, which is the highest since 2014. The reason for this is said to be the fight for number one between the two groups.
UltraTech world’s third largest cement company
UltraTech has acquired 6 cement companies since 2013. Recently it acquired India Cements, which is ranked among the top-10 cement companies of the country.
Adani Cements is the second largest cement company in the country. Adani Group owns cement companies like Ambuja Cements, ACC and Sanghi Cement. Since 2022, this group has acquired 4 cement companies.
Adani Cements’ target is to increase its cement production capacity to 140 million tonnes annually by 2028. Currently its production capacity is 9.74 crore tonnes, UltraTech’s is 15 crore tonnes.
This year, both the giants spent Rs 40 thousand crore and acquired companies with an annual production capacity of more than 5 crore tonnes.
With more than 8% share in global production, India is now the second largest cement producer after China.
