General Announcement::Outcome of Board Meeting - purchase of Grinding Unit

Issuer & Securities

Issuer/ Manager
ULTRATECH CEMENT LIMITED
Securities
ULTRATECHUS$400M2.8%N310216A - US90403YAA73 - MTZB
ULTRATECHUS$400M2.8%N310216R - USY9048BAA18 - WQ5B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
21-Apr-2024 14:01:40
Status
New
Announcement Sub Title
Outcome of Board Meeting - purchase of Grinding Unit
Announcement Reference
SG240421OTHRN8PV
Submitted By (Co./ Ind. Name)
Sanjeeb Kumar Chatterjee
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
We write to inform you that the Board of Directors at its meeting held today, approved purchase of a grinding unit having installed capacity of 1.1 mtpa in addition to a captive railway siding, at Parli, Maharashtra from The India Cements Limited, a company incorporated under the Indian Companies Act, 1913 and having its registered office at Dhun Building, 827, Anna Salai, Chennai 600 002 ( Seller ) for a consideration of Rs. 315 crores. The Company has entered into an Asset Purchase Agreement with the Seller for the aforesaid transaction.

This purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets.

Attachments

SEGUacquisition.pdf
Total size =172K