As part of the demerger, Kesoram’s preference shareholders will get 54,86,608 fully paid-up 7.3% non-convertible redeemable preference (NCRP) shares of ₹100 each in exchange for 90,00,000 5% cumulative NCRP shares of ₹100 each held by Kesoram’s preference shareholders.
Additionally, 8,64,275 fully paid-up 7.3% NCRP shares of ₹100 each will be issued in exchange for 19,19,277 optionally convertible redeemable preference shares of ₹100 each held by Kesoram’s preference shareholders. The record date for equity shareholders will be determined by Kesoram Industries.
Also Read: UltraTech Cement Q3 results: Net profit declines but beats Street estimates, stock rallies over 6%
Further, UltraTech Cement said it plans to expand its presence in the construction value chain by entering the wires and cables segment with a capital expenditure of approximately ₹1,800 crore over the next two years.
The company’s board has approved the proposal, which will be executed through its Building Products Division as part of its strategy to establish itself as a comprehensive Building Solutions provider.
UltraTech aims to leverage its manufacturing expertise and strong customer connections to offer high-quality wires and cables, enhancing its market share. The manufacturing plant will be set up near Bharuch, Gujarat, and is expected to be commissioned by December 2026.
Also Read: UltraTech buys 8.69% stake from Star Cement promoter group for ₹851 crore
Shares of UltraTech Cement Ltd ended at ₹10,940.20, down by ₹103.15, or 0.93% on the BSE.
