UltraTech Cement to raise investeor limit to 30%

In its regulatory filing to the Bombay Stock Exchange (BSE) of India, UltraTech Cement has announced that it has secured permission from its board to raise its Registered Foreign Portfolio Investor (RFPI) limit from 24% to 30%. The increase in the limit by the local company is subject to approval from board members at the yearly general meeting scheduled for July 2016.
May 12, 2016 Read time: 1 min

In its regulatory filing to the Bombay Stock Exchange (BSE) of India, 6846 UltraTech Cement has announced that it has secured permission from its board to raise its Registered Foreign Portfolio Investor (RFPI) limit from 24% to 30%.

The increase in the limit by the local company is subject to approval from board members at the yearly general meeting scheduled for July 2016.

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India’s UltraTech to acquire Jaypee cement plants

UltraTech Cement in India has agreed to buy 21.2 million tonnes/year of cement capacity from Jaiprakash Associates (flagship of the Jaypee Group) for INR 159 billion (€2.13 billion US$2.38 billion).

The deal covers cement plants in Andhra Pradesh, Madhya Pradesh, Himachal Pradesh, Uttar Pradesh and Uttarakhand, but not the 1.2 million tonnes/year plant in Karnataka originally considered. This takes about INR 6 billion off the previously estimated transaction size.

Some 4 million tonnes/year the 21.2

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