UltraTech Cement to acquire 26% stake of AMPIN C&I Power Eight

The move, involving an investment of up to Rs 25.50 crore, is part of UltraTech's strategy to meet its green energy requirements, the company added.

The firm stated that it has entered into an energy supply agreement, share subscription, and shareholder agreements to facilitate the acquisition. This initiative is also expected to help UltraTech optimize energy costs and meet regulatory norms related to captive power consumption under electricity laws.

AMPIN C&I Power Eight, incorporated on 29 January 2025, is a special-purpose vehicle created for developing a 75 MWp DC/50 MW AC solar power project in Sindhari village, Balotara district, Rajasthan.

UltraTech, valued at $8.4 billion, is the world's third-largest cement producer outside of China, with a total consolidated grey cement capacity of 183.06 MTPA.

UltraTech, an Aditya Birla group entity, is the market leader in Indian cement industry with 177.7 MPTA grey cement capacity as on 1 March 2025 with pan-India presence.

On a consolidated basis, net profit of UltraTech Cement declined 17.30% to Rs 1469.51 crore while net sales rose 2.71% to Rs 17193.33 crore in Q3 December 2024 over Q3 December 2023.

Shares of UltraTech Cement fell 0.53% to Rs 11,665 on the BSE.