UltraTech Cement, part of the Aditya Birla Group, announced on April 3 that it will buy Wonder WallCare for Rs 2.35 billion. This means UltraTech will own 100% of the company. They signed an agreement with Wonder WallCare’s current owners, and the deal will be completed in about 90 days after getting the necessary approvals.

With this purchase, UltraTech will get 6.42 crore shares, each worth Rs 10. This move is part of UltraTech’s plan to grow its white cement and wall putty business. The deal also includes a new factory in Rajasthan that can make 6 lakh metric tonnes of wall putty each year. This factory, built in 2022-2023, is one of the biggest in India and is close to high-quality raw materials and UltraTech’s other factories. The deal will help UltraTech strengthen its position in India’s growing wall putty market.

UltraTech’s stock went up by 2.92%, ending at Rs 11,583.65 on the BSE.