N. Srinivasan resigned as the Chief Executive Officer (CEO) of India Cements on Wednesday, following the approval from the Competition Commission of India (CCI) for a deal worth over Rs 7,000 crore. The deal will see billionaire Kumar Mangalam Birla's UltraTech Cement acquire a majority stake in India Cements Ltd.

India Cements announced on Wednesday that N. Srinivasan has resigned as CEO and MD. This follows the Competition Commission of India (CCI) approving UltraTech Cement's acquisition of a 55.5% stake in India Cements,

UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,

The Competition Commission of India has approved UltraTech Cement's acquisition of a 32.72% stake in India Cements for ₹3,954 crore.

Shares of India Cements rose sharply after the Competition Commission of India approved UltraTech Cement's acquisition of a majority stake. The deal involves UltraTech acquiring a substantial share of India Cements,

CHENNAI: Just a fortnight after the Competition Commission of India (CCI) issued notices to India Cements and UltraTech Cement over the acquisition de.

India Cement's promoter shareholders resigned on Wednesday after UltraTech Cements completed the acquisition of majority stakeholding in the Chennai-based cement manufacturer.

Leading cement maker UltraTech has completed the acquisition of promoters a 32.72% stake in India Cements Ltd, following which N. Srinivasan and other promoters of the South-based cement maker have stepped down.

India Cements' N Srinivasan resigns as vice-chairman and MD following UltraTech's acquisition, ending a 50-year association. His family members, including daughter Rupa Gurunath and wife Chitra Srinivasan,