UltraTech Cement to Expand into Northeast with 'Star Trek' Initiative

UltraTech Cement said reently it will invest Rs 851 crore to pick an 8.6 percent stake in the Meghalaya-based Star Cement, which has 7.7 million tonnes per annum (MTPA) capacity in East India.

UltraTech, in a stock exchange statement, said some promoter and promoter group entities of Star Cement have approached it to sell their equity holding. UltraTech’s board recently approved acquiring a non-controlling minority stake of up to 37 million equity shares of Star Cement at a price not exceeding Rs 235 apiece, excluding taxes.

UltraTech is India’s largest cement maker, with 150.7 million tonnes of capacity in India as of October 2024. The Aditya Birla Group company plans to expand capacity to 200 MTPA by 2028.