UltraTech Cement to acquire Wonder WallCare for INR 235 crores

** UltraTech Cement Limited (BSE:ULTRACEMCO) announced today that its Board of Directors approved the acquisition of 100% equity in Wonder WallCare Private Limited from Wonder Cement Limited, effective immediately. The deal involves the purchase of 64,240,000 equity shares, each valued at INR 10, at an enterprise value not exceeding INR 235 crores. Wonder WallCare, incorporated on December 13, 2019, operates in the manufacture of wall putty and related products. For FY24, Wonder WallCare reported a turnover of INR 78.61 crores. This acquisition will give UltraTech access to a state-of-the-art 6 lac MT per annum manufacturing plant for wall putty and related products at Rajsamand - Nathdwara, 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. The 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. The transaction is expected to close within 90 days, subject to regulatory approvals.