UltraTech Cement Completes Settlement Proceedings Related to Jaiprakash Associates Acquisition
UltraTech Cement Limited announced on March 26, 2026, the resolution of settlement proceedings concerning the acquisition of certain cement plants from Jaiprakash Associates Limited (JAL). The resolution follows a dispute that was referred to arbitration.As part of the original agreement, signed on June 27, 2017, UltraTech Cement issued 100,000 Series A Redeemable Preference Shares of Rs. 100,000 face value each to JAL, which were placed in escrow. These shares were contingent upon the satisfaction of conditions regarding the Dalla Super unit and mines located in Uttar Pradesh.
The final award from the Arbitral Tribunal, issued on March 26, 2026, confirms that all rights and interests in the Dalla Super unit and mines have now fully vested in UltraTech Cement. Consequently, all claims, proceeds, and liabilities related to the Series A RPS have been fully discharged.
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