UltraTech to buy 8.69 percent stake in Star Cement
Aditya Birla Group company UltraTech Cement said on Friday that it will buy 8.69 percent stake in Meghalaya's cement company Star Cement. This stake will be bought from Star Cement's promoter Rajendra Chamaria and his family for Rs 851 crore.
According to sources, only the Chamaria family will retain its stake in this deal. The promoters owned by Century Ply will not sell their stake in Star Cement.
When Rajendra Chamaria was asked for comment, he did not deny this development, but refrained from giving detailed information.
Currently, Chamaria's stake is estimated to be around 13-14 percent.
According to sources, only the Chamaria family will retain its stake in this deal. The promoters owned by Century Ply will not sell their stake in Star Cement.
When Rajendra Chamaria was asked for comment, he did not deny this development, but refrained from giving detailed information.
Currently, Chamaria's stake is estimated to be around 13-14 percent.