Aditya Birla Group’s flagship company, UltraTech Cement Ltd, on Thursday (April 3) said its board of directors has approved the acquisition of 100% equity in Wonder WallCare at an enterprise value of up to ₹235 crore. The company has signed a Share Purchase Agreement with Wonder WallCare’s existing shareholders.

The transaction is expected to be completed within 90 days, subject to necessary regulatory approvals and compliance. The acquisition involves purchasing 6.42 crore equity shares of ₹10 each, in line with UltraTech’s strategy to expand its white cement and wall putty business.

This acquisition gives UltraTech access to a new state-of-the-art 6 lakh MT per annum manufacturing plant for wall putty and related products at Rajsamand – Nathdwara, Rajasthan.

Also Read: UltraTech Cement expands capacity; global cement output reaches 188.76 MTPA

The plant is situated at the pithead of large high-quality raw material reserves, and near the company’s existing putty manufacturing facilities in Rajasthan. Constructed in 2022-23, this plant is one of the largest single-location putty manufacturing sites in India, with the capability to ramp up its capacities
in future.

This acquisition will help the company expand its putty and Value-Added Products’ production capacity, in the highly competitive and fragmented putty manufacturing market in India.

Shares of UltraTech Cement Ltd ended at ₹11,583.65, up by ₹328.25, or 2.92%, on the BSE.

Also Read: UltraTech Cement expands production capacity by 1.2 MTPA in Chhatisgarh and Uttarakhand