🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
CCI directs UltraTech/India Cements, Dalmia Bharat to furnish financial records
Economic Times
·
1m ago
Medial
The Competition Commission of India (CCI) has directed UltraTech, India Cements, Dalmia Bharat, Shree Digvijay Cements, and their executives to provide financial records after finding evidence of competition norm violations. This directive results from ONGC's complaint alleging cartelization in tenders. The companies must submit audited financial statements and income tax records for a specified period or face liability under section 45 of the Act. The investigation found anti-competitive collusion involving a middleman, Umakant Agarwal.
View Source
1
Related News
CCI directs UltraTech, two others to give financial statements
Economic Times
·
1m ago
Medial
The Competition Commission of India (CCI) has directed UltraTech, Dalmia Cement (Bharat) Limited, and Shree Digvijay Cement to submit audited financial statements due to allegations of anti-competitive practices in an ONGC tender. This order follows a complaint from ONGC regarding cartelization. The companies and their executives must provide detailed financial records to comply. Dalmia Cement has stated that they remain committed to regulatory compliance and are cooperating with authorities.
View Source
N Srinivasan resigns as CEO, MD of India Cements after CCI approves ₹7,000-crore UltraTech deal
Livemint
·
7m ago
Medial
N Srinivasan has stepped down as CEO and MD of India Cements after the Competition Commission of India (CCI) approved the ₹7,000-crore UltraTech deal. Stay updated on the latest news about companies, including financial performance, acquisitions, and market trends. Gain insights into mergers, financial results, and leadership changes that are influencing the business landscape.
View Source
In the grinding battle for cement, UltraTech makes a big move in the south
Livemint
·
1y ago
Medial
UltraTech Cement has acquired a 32.72% stake in India Cements from its promoters for INR 3,954 crore ($531 million), as part of its expansion strategy. UltraTech will also launch an open offer to acquire an additional 26% stake in India Cements. With this acquisition, UltraTech's total shareholding in India Cements will reach 81.49%. The deal comes after UltraTech purchased a 22.77% stake in India Cements in June. The transaction allows UltraTech to better serve the southern markets and further increase its capacity.
View Source
UltraTech buys 23% stake in India Cements for $226 mn
VCCircle
·
1y ago
Medial
UltraTech Cement, India's top cement producer, has announced its acquisition of a 23% stake in India Cements for $226 million. The deal will see UltraTech purchase 70.6 million shares of India Cements for up to 267 rupees each. This move comes as UltraTech aims to secure a larger market share, competing with other cement giants such as Ambuja and ACC, both part of the Adani group. Earlier this month, Ambuja acquired Penna Cement Industries for $1.25 billion.
View Source
UltraTech Cement board approves 32.72% acquisition of India Cements
Livemint
·
1y ago
Medial
UltraTech Cement has received approval from its Board of Directors to purchase a 32.72% equity stake in India Cements. The deal, worth ₹3,954 crore, will see UltraTech pay ₹390 per share. This purchase will also trigger a mandatory open offer. India Cements has a total capacity of 14.45 mtpa of grey cement. The transaction is subject to regulatory approvals. UltraTech Cement's Chairman, Kumar Mangalam Birla, stated that the company's investments, both organic and inorganic, have propelled India's growth in the building solutions sector.
View Source
Gautam Adani’s Ambuja Cements draws up $9-billion war plan for Ultratech battle
Livemint
·
1y ago
Medial
Billionaire Gautam Adani plans to invest $9 billion in Ambuja Cements to surpass Aditya Birla Group's Ultratech Cement as India's largest cement-maker. The plan involves increasing Ambuja Cements' capacity to at least 180 million tonnes per annum in the next three years. The Adani group aims to leverage Ambuja's cash reserves and additional capital to augment production capacity. The expansion plan includes acquisitions and investments. However, industry analysts suggest that Ultratech Cement also has expansion plans, and Ambuja Cements may take longer to surpass their capacity.
View Source
UltraTech Cement must divest 7% stake in India Cements to meet SEBI norms
Economic Times
·
1m ago
Medial
UltraTech Cement must divest approximately 7% of its stake in India Cements, valued at over ₹667 crore, to comply with SEBI's minimum public shareholding norms. This requirement follows an oversubscribed open offer that increased its stake beyond regulatory limits. According to SEBI regulations, publicly listed companies must maintain at least 25% public shareholding, and India Cements has until February 3, 2026, to meet this requirement through secondary sales or rights issues.
View Source
Adani-owned Ambuja Cements buys south Indian rival for $1.25 bn
VCCircle
·
1y ago
Medial
Ambuja Cements, owned by the Adani group, has acquired Penna Cement Industries for $1.25 billion. This move is aimed at expanding their presence in South India and competing with market leader UltraTech Cement. The deal will increase Adani Cement's market share by 2% across India and 8% in South India. Ambuja Cements will fund the acquisition through internal accruals. Cement makers in India are focusing on increasing production to meet the growing demand in the construction sector.
View Source
UltraTech lines up Rs 10,000 cr capex for FY26 to bolster capacity
Economic Times
·
11d ago
Medial
UltraTech Cement plans to invest Rs 10,000 crore in FY26 to expand capacity and improve efficiency. The company achieved a significant capacity milestone of 188.8 MTPA and aims for 200 MTPA soon, driven by acquisitions like India Cements and Kesoram Industries. UltraTech expects cement demand growth of 6-7% in FY26, bolstered by government infrastructure investments. Despite recent market challenges, they foresee higher volume growth, improved margins, and a reduced net debt to EBITDA ratio.
View Source
Fashion Entrepreneur Fund Ropes In Gaurav Dalmia As Investor
Inc42
·
1y ago
Medial
Fashion Entrepreneur Fund (FEF) has partnered with Dalmia Bharat Group chairman, Puneet Dalmia, to support and invest in emerging fashion entrepreneurs. Dalmia's expertise and networks are expected to enhance FEF's position as a leading platform for fashion entrepreneurs in India. FEF recently secured investments from Ravi Jaipuria, chairman of RJ Corp, and Bollywood actor Akshay Kumar, with a commitment of INR 20 crore in the fashion sector.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
