The Board of Directors of UltraTech Cement Ltd., atits meeting held last month, have approved the purchase of 100 per cent equityof Wonder WallCare atan enterprise value not exceeding INR 235-crores. The Company has executed aShare Purchase Agreement with the existing shareholders of Wonder WallCare. Thedeal is expected to close in the next 90 days, subject to applicable regulatoryapprovals and compliances.

This acquisition gives UltraTech access to a newstate-of-the-art 6.0 lakh MT per annum manufacturing plant for wall puttyand related products at Rajsamand–Nathdwara, Rajasthan. The plant issituated at the pithead of large high quality raw material reserves, and inclose proximity to the Company’s existing putty manufacturing facilities inRajasthan.

Constructed in 2022-23, this plant is one ofthe largest single-location putty manufacturing sites in India, with acapability to ramp up its capacities in future. This acquisition will helpUltraTech expand its putty and value-added products’ production capacity, inthe highly competitive and fragmented putty manufacturing market in India.