UltraTech's offer for ICL to open on 19 September
Cement

UltraTech's offer for ICL to open on 19 September

UltraTech Cement's Rs.31.42 billion open offer for acquiring 26 per cent stake in India Cements (ICL) will tentatively open on September 19 and close on October 3. The Aditya Birla group flagship company has proposed to acquire 80.5 million shares of ICL at Rs.390 apiece, said the draft of the offer...

UltraTech Cement's Rs.31.42 billion open offer for acquiring 26 per cent stake in India Cements (ICL) will tentatively open on September 19 and close on October 3. The Aditya Birla group flagship company has proposed to acquire 80.5 million shares of ICL at Rs.390 apiece, said the draft of the offer submitted to bourses. The offer price is 6.3 per cent higher than the closing price of Rs.366.90 of ICL at BSE. The mandatory open offer was triggered after UltraTech announced acquisition of a 32.72 per cent stake in ICL from promoters and their associates for `39.54 billion. If subscribed fully, then based on the Rs.390 price,the open offer will come in at Rs.31.42 billion. Before this, UltraTech had acquired a stake of around 23 per cent in ICL.Contact: UltraTech CementTel: 22-66917800Website: www.ultratechcement.com

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Technology

Nemetschek, Ovation Partner in Rs 4.1 Crore Deal to Boost BIM, Steel Detailing in India

Nemetschek Group has partnered with Ovation Services in a Rs 4.1 crore deal to advance Building Information Modeling (BIM) and structural steel detailing across India. The collaboration will see Ovation integrate Nemetschek’s ALLPLAN SDS2 software and BIM Construction suite, including Bluebeam, to enhance project efficiency and precision.With offices in Hyderabad, Chennai, and Kakinada, as well as in the US, Ovation Services will expand its high-precision engineering solutions using Nemetschek’s digital tools. The partnership aims to optimize project delivery, reduce rework, and improve co..

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Real Estate

MHADA Chhatrapati Sambhajinagar Board to hold first Janata Darbar Din

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Equipment

Wolffkran Presents New WOLFF 550 B Luffing Jib Crane

The strong global demand for large cranes has been shaping Wolffkran’s product development strategy for years and is also reflected in the exhibits at this year’s bauma. The five-member bauma pack is completed by a powerful new luffing jib crane: the WOLFF 550 B. It stands out for its high lifting capacity and flexibility. “Our customers are increasingly requesting cranes in the 500 to 600 mt range for infrastructure projects, industrial plants, and data centers. Despite a weak economic outlook, there is still a lot of construction happening in these sectors,” says Mohamed Abouelezz, ..

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