UltraTech Cement Ltd, the flagship company of the Aditya Birla Group, announced on Thursday, 3 April, that its board of directors has approved the acquisition of 100 per cent equity in Wonder WallCare at an enterprise value of up to Rs 2.35 billion. A Share Purchase Agreement has been signed with the existing shareholders of Wonder WallCare.

The transaction, which remains subject to regulatory approvals and compliance, is expected to be completed within 90 days. As part of the deal, UltraTech will acquire 6.42 crore equity shares of Rs 10 each—aligning with the company’s broader strategy to expand its white cement and wall putty business.

This acquisition grants UltraTech access to a newly built, state-of-the-art manufacturing facility with a capacity of 6 lakh metric tonnes per annum for wall putty and related products. The plant, located at Rajsamand – Nathdwara in Rajasthan, is situated at the pithead of high-quality raw material reserves and is in proximity to UltraTech’s existing putty manufacturing units.

Constructed during 2022–23, the Rajsamand facility ranks among the largest single-location putty manufacturing plants in India, with scope for further capacity expansion. The acquisition will significantly enhance UltraTech’s production capabilities in value-added products, helping it gain a stronger foothold in India’s competitive and fragmented wall putty market.

Shares of UltraTech Cement ended at Rs11,583.65 on the BSE, up Rs 328.25 or 2.92 per cent.