UltraTech Cement has been granted approval by the National Company Law Tribunal (NCLT) to acquire Kesoram's cement assets. This acquisition, which was announced in November through a share purchase agreement, is expected to expand UltraTech's presence in the southern markets of India.

As part of the deal, UltraTech intends to invest around Rs 400-500 crore in capital expenditure to enhance the efficiency of Kesoram's cement facilities. Additionally, the company's board has approved the issuance of unsecured non-convertible debentures (NCDs) through private placement to raise Rs 1,000 crore.