Business

Ultratech in share swap deal with Kesoram for cement biz

Kesoram informed the bourses that it has demerged the cement business and as part of a deal

DTNEXT Bureau

KOLKATA: Aditya Birla Group’s largest cement maker UltraTech Cement has taken over the cement business of B K Birla group’s flagship Kesoram Industries in a share-swap deal, according to a regulatory filing.

Kesoram informed the bourses that it has demerged the cement business and as part of a deal, shareholders will receive one share of UltraTech Cement for 52 Kesoram shares of Rs 10 each.

Also Read

NDA re-entry row: No denial or acceptance, TTV Dhinakaran buys time

Edappadi's 3 poll promises to cost over Rs 38,000 cr annually

LoP pasting AIADMK stickers on our flagship schemes, flays Regupathy

Murugan flays DMK's illusions, yet backs EPS's welfare splurge

PM Modi lauds Namakkal youth for reflections on Kashi Tamil Sangamam