UltraTech Cement is planning to raise up to Rs 3,000 crore through the private placement of non-convertible debentures (NCDs) in multiple tranches. This move is aimed at increasing the company's financial flexibility in the face of growing competition in the cement sector.

The Aditya Birla Group's flagship company has received approval from its finance committee to issue rupee-denominated, unsecured, redeemable, and listed NCDs. Over the past year, UltraTech's share price has risen by more than 22%, reaching Rs 10,720, resulting in a market capitalization of around Rs 3.1 lakh crore. The stock has performed slightly better than the benchmark NSE Nifty 50 index, which has seen gains of less than 20% during the same period.