Ultratech approved the purchase of 100% equity of Wonder WallCare at an Enterprise Value not exceeding Rs. 235 crores in the Company’s Board of Directors meeting held today. The Company has executed a Share Purchase Agreement with the existing shareholders of Wonder WallCare. The deal is expected to close in the next 90 days, subject to applicable regulatory approvals and compliances.
This acquisition gives UltraTech, access to a new state-of-the-art 6 lac MT per annum manufacturing plant for wall putty and related products at Rajsamand – Nathdwara, Rajasthan. The plant is situated at the pithead of large high quality raw material reserves, and in close proximity to 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 a 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.
With the rapid pace of urbanisation and growing real estate construction in India, alongside Hon’ble Prime Minister, Shri Narendra Modiji’s vision of ‘Make in India’ and ‘Atmanirbhar Bharat’, this acquisition aligns well with the Company’s strategy to support high quality real estate and contribute to infrastructure, manufacturing and economic growth.
About UltraTech Cement Limited
UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. A USD 8.4 billion building solutions company, UltraTech is the third largest cement producer in the world, outside of China, with a total grey cement capacity of 188.76 MTPA and white cement / putty capacity of 2.7 MTPA. It is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete Roadmap announced by GCCA.
