The Company’s Board of Directors approved the purchase of 100% equity of Wonder WallCare at an Enterprise Value not exceeding Rs 235 crores. The Company has executed a Share Purchase Agreement with the existing shareholders of Wonder WallCare. The deal is expected to close in 90 days, subject to applicable regulatory approvals and compliances.
This acquisition gives UltraTech access to a new 6 lac MT per annum manufacturing plant for wall putty and related products at Rajsamand - Nathdwara, Rajasthan. The plant is situated at the pithead of large, high-quality raw material reserves and close to the Company’s existing putty manufacturing facilities in Rajasthan. Constructed in 2022-23, this plant is one of India's largest single-location putty manufacturing sites, with the capability to ramp up its capacities in future. This acquisition will help the Company expand its putty and value-added products’ production capacity in India's highly competitive and fragmented putty manufacturing market.
With the rapid pace of urbanisation and growing real estate construction in India, alongside PM's vision of ‘Make in India’ and ‘Atmanirbhar Bharat’, this acquisition aligns well with the Company’s strategy to support high-quality real estate and contribute to infrastructure, manufacturing, and economic growth.
