UltraTech acquires Wonder WallCare at enterprise value of Rs 235 crore

The board of UltraTech, an Aditya Birla group company, today approved the acquisition of Wonder WallCare, a subsidiary of Wonder Cement, at an enterprise value of Rs 235 crore.

 

The deal is expected to close in the next 90 days, subject to applicable regulatory approvals and compliance, the company said in a statement.

 

This acquisition will give UltraTech access to a new state-of-the-art 6 lakh tonnes per annum manufacturing plant for wall putty and related products at Rajsamand, at Nathdwara, Rajasthan.

 

The plant is situated at the pithead of large high-quality raw material reserves, and in close proximity to the company’s existing putty manufacturing facilities in Rajasthan.

 

 

Constructed in 2022–23, this plant is one of the largest single-location putty manufacturing sites in India, with a capability to ramp up its capacities in future.

 

This acquisition will help UltraTech expand its putty and value-added products production capacity in the highly competitive and fragmented putty manufacturing market in India.