Adani Vs Birla: Birla made this preparation...?
Adani Vs Birla: Birla made this preparation...?In the indian cement sector, adani and Birla, two significant business conglomerates, are engaged in a bloody struggle. In this contest, Birla already has an advantage. The Birla Group is now gearing up to solidify its leadership position in the indian cement sector. For this, a new agreement is being negotiated.UltraTech will have a larger stake than 50%.The Aditya Birla Group's UltraTech Cement has reportedly begun making plans to purchase a larger share in India Cements, according to an ET article. Vice Chairman and Managing director N Srinivasan of india Cements are set to be acquired by UltraTech Cement for a total of 28.42 percent. In the event that this occurs, UltraTech Cement's ownership of india Cements will rise to 51 percent.A possible open offer to purchase sharesThe article suggests that UltraTech Cement might make an open offer to purchase a larger share of india Cements. UltraTech Cement may purchase shares in the open offer for between Rs 400 and Rs 430 per share. The current market price of india Cements shares is between 8 and 15 percent lower than this pricing.Damani purchased a share in June.This year, UltraTech Cement invested in india Cements. In June, the Birla Group company entered into an agreement to purchase radhakrishna Damani's shareholding in india Cements. It is reported that discussions to purchase N Srinivasan's ownership of india Cements were also held at the same timeby the two parties.Adani Group ranks second in the cement industry.The UltraTech Cement authorities are currently concentrating on the procedure for moving the proposed deal forward. It is anticipated that in the coming days, the planned agreement can be formally disclosed. About Rs 7,000 crore can be spent on this transaction by UltraTech Cement. The adani Group, which just acquired Ambuja and ACC Cement to take the number two spot in the cement market, is a rival to the Aditya Birla Group.