UltraTech Cement Incorporates Associate Entity in GIFT City to Strengthen Operational Network
UltraTech Cement Limited has successfully incorporated a new associate entity, UHG Holdings IFSC Private Limited, which aims to strengthen the company's business and operational network. The incorporation took place in International Financial Services Centres (IFSC) at the Gujarat International Finance Tec-City (GIFT City) on August 20, 2026.UHG Holdings IFSC Private Limited was established as a joint venture involving UltraTech Cement Limited, Hindalco Industries Limited (Promoter Group Company), and Grasim Industries Limited (Promoter Company). The entity is registered in GIFT City to be governed by the International Financial Services Centres Authority Act, 2019, along with relevant regulations issued by the IFSC Authority.
Consequent to its incorporation, UHG Holdings has become a related party of UltraTech Cement Limited. The stated objects of UHG Holdings include purchasing, leasing, sub-leasing, chartering, hiring, owning, or operating various modes of transportation, such as aircrafts, ships, and ocean vessels, in accordance with IFSC jurisdiction regulations.
Financial Details of the Incorporation
The establishment of UHG Holdings involved a specified shareholding structure among the promoter entities. UltraTech Cement Limited acquired a significant stake while the other promoters contributed shares to the new venture.The details regarding the acquisition cost and percentage of shareholding are as follows:
| Entity | Shares Acquired | Face Value (in Rs.) | Consideration (in Rs.) | Percentage Shareholding |
|---|---|---|---|---|
| UltraTech Cement Limited | 41,000 | 10 | 4,10,000 | 41% |
| Hindalco Industries Limited | 50,000 | 10 | 50% | |
| Grasim Industries Limited | 9,000 | 10 | 90,000 | 9% |
The incorporation of UHG Holdings is structured to support the company's strategic growth and operational expansion in specialized fields related to transportation assets.
ULTRACEMCO Stock Price Movement
Shares of UltraTech Cement Limited slipped by 0.04% on Friday, settling at ₹11570. The stock saw a traded volume of 133,753 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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