UltraTech says India Cements will continue to be a listed entity.

Chennai Super Kings (CSK), the cricket team that plays in the Indian Premier League (IPL), are owned by India Cements promoters N Srinivasan and his family. This ownership will not alter.The Aditya Birla group company claimed in a regulatory statement that UltraTech, the acquirer, has no "intention to delist" the competitor cement company located in South Africa, so India Cement Ltd. (ICL) will continue to be a listed corporation.Chennai Super Kings (CSK), the cricket team that plays in the Indian Premier League (IPL), are still owned by N Srinivasan and his family, promoters of India Cements. In a copy of a public statement that was published to markets on Monday, Axis Capital, which is handling the open offer for UltraTech, stated that the leading cement player plans to purchase 8.05 crore shares of ICL, or 26% of the holdings of the cement producer situated in Chennai.

"The acquirer does not have an intention to delist the target company (ICL) pursuant to this open offer," it stated."At a price of Rs 390 per offer share aggregating to a total consideration of up to Rs 3,142.35 crore," the open offer is contingent upon the fair trade regulator CCI granting the necessary statutory permission. The shares of ICL were up 0.56% from the previous close to trade at Rs 376.70 apiece on the BSE, making the offer price 3.53 percent higher. The flagship business of the Aditya Birla Group, UltraTech Cement, announced on Sunday that it would pay Rs 3,954 crore to acquire a 32.72 percent stake in India Cements from promoters and their associates. This deal will enable UltraTech Cement to increase its presence in the fiercely competitive and rapidly expanding Southern cement market, particularly in Tamil Nadu. Moreover, in light of the completion