UltraTech to foray into cable and wire biz with a capex of Rs 1,800 crore

Kumar Mangalam Birla, Chairman of Aditya Birla Group, stated that their entry into this business aligns with the company’s vision of providing comprehensive solutions to end customers in the construction sector. 

He added that their focus will remain on growing their core Cement business. “This year UltraTech reached a new milestone of crossing 175 mtpa of cement capacity in India and is likely to emerge as the largest cement company globally (by sales volume ex-China),” said Birla. 

UltraTech also informed that its board has approved the implementation of the demerger scheme involving Kesoram Industries, effective March 1, 2025. 

Under the scheme, UltraTech will issue one equity share of Rs 10 each for every 52 equity shares of Rs 10 each held by Kesoram’s shareholders as of the record date. The company has set March 10, 2025, as the record date.

UltraTech had last year received approval from the National Company Law Tribunal (NCLT) to acquire Kesoram Industries Ltd worth Rs 7,600 crore. The deal will boost UltraTech’s presence in the southern markets where much of Kesoram assets are located.