Ahead of the mega Indian Premier League (auctions, five-time champion team Chennai Super Kings has retained their iconic player Mahendra Singh Dhoni. However, as per sources, Dhoni, who is also the vice president (marketing) of India Cements, may not be retained by the cement entity under UltraTech Cement.
Furthermore, the South Indian cement major, currently in a transition phase due to the acquisition of shares from N Srinivasan and other promoter groups by the K M Birla-promoted UltraTech Cement, may also gradually phase out Conkrete Super King Cement, popularly known as 'CSK Cement' or 'Dhoni Cement', among dealers and consumers.
No final decision has yet been taken with regard to CSK Cement.
Dhoni's association with the group started in 2008 as part of the IPL franchisee, and he was appointed VP (Marketing) for India Cements in 2013, with a monthly salary of around Rs 1.7 lakh.
It was only in March 2022 that the company launched two brands, Conkrete Super King (CSK) and Halo Super King (HSK), in a move to cash in on the brand identity of its successful IPL franchisee CSK. The future of HSK under the new management is unclear.
The other popular brands of India Cements include Raasi, Sankar, and Coromandel. A CSK source said that they haven't discussed the matter with Dhoni so far.
It was in June 2024 that UltraTech announced the decision to acquire about 23 per cent stake in India Cements. A month later, UltraTech entered into a second deal to acquire another 32.72 per cent stake in India Cements from the South entity's promoters and associates. As per regulations, this is to trigger a mandatory open offer. The second leg of the acquisition and the open offer are under way and subject to approvals, including from the Competition Commission of India.
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