New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    Which company signed a Share Purchase Agreement to

    acquire a 32.72% stake in India Cements Limited at Rs 390 per share in July 2024? 
    A Ambuja Cements Limited Correct Answer Incorrect Answer
    B Ramco Cements Limited Correct Answer Incorrect Answer
    C Ultra Tech Cement Limited Correct Answer Incorrect Answer
    D JK Cement Limited Correct Answer Incorrect Answer
    E JK Cement Limited Correct Answer Incorrect Answer

    Solution

    Ultra Tech Cement Limited, part of the Aditya Birla group, agreed to purchase a 32.72% additional stake in India Cements for Rs 3,954 crore at Rs 390 per share on 28th July 2024. This acquisition will increase UltraTech's total stake to 55.49%, making India Cements a subsidiary of UltraTech. The acquisition price was 4.1% higher than the closing share price of India Cements on 26th July 2024.

    Practice Next