Kesoram's cement business demerger may be completed by December 2024

The cement business accounted for the bulk of Kesoram's revenue from operations. According to the FY24 annual report, revenue from cement was Rs 3,736.10 crore

The demerger of Kesoram Industries’ cement business into UltraTech Cement is expected to be completed by December 2024.

Kesoram, a BK Birla group entity, and UltraTech, led by his grandson Kumar Mangalam Birla, had announced an all-stock deal on November 30 last year. This entailed the B K Birla company demerging its cement business into India’s largest cement producer. 

P Radhakrishnan, whole-time director and chief executive officer (CEO) of Kesoram, said the scheme of arrangement had already been filed with the National Company Law Tribunal (NCLT) on May 20.

“I am hopeful that by December the demerger will be completed,”