UltraTech Cement was in advanced talks to buy a 28.42% stake in India Cements from N. Srinivasan, raising its total holdings to 51%. This `7,000 crore deal would trigger an open offer and significantly strengthen UltraTech's market share in southern India. N. Srinivasan's family has no interest in running the business after his retirement.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.