Kesoram Industries has finalized the sale of its Cement Business to UltraTech Cement. This sector of Kesoram Industries manages the manufacturing, production, sales, and distribution of grey cement through two integrated units located in Sedam (Karnataka) and Basantnagar (Telangana). Together, these units boast a combined capacity of 10.75 million metric tonnes per annum (mtpa), complemented by a 0.66 mtpa packing plant in Solapur, Maharashtra.
The sale of the cement division will unlock its value for Kesoram Industries’ shareholders, enabling the company to refocus its efforts on core business segments such as rayon, transparent paper, and chemicals.cAs part of the swap deal, shareholders of Kesoram Industries will receive 1 share of UltraTech Cement for every 52 shares of Kesoram Industries held. Presently, Kesoram is trading at 153.65 (currently locked in an upper circuit), while UltraTech Cement is valued at Rs. 9110. Acquiring 52 shares of Kesoram Industries translates to indirectly acquiring UltraTech Cement at Rs. 7,989.8 (52 * 153.65), presenting a discount of Rs. 1,100. However, the specific record date for the swap deal is yet to be announced.
How to buy Kesoram Industries when it is already in upper circuit?
At Dhan, you can set an AMO order which will get triggered in the exchange right after the market opens. So in the entire list of buyers, you can get a chance to be at the top of the queue. So whenever there is a seller, there would be high changes for you to get the shares!