Our Story | Milestones Achieved by UltraTech Cement Ltd
The board of Larsen & Toubro Ltd (L&T) decides to demerge its cement business into a separate cement company (CemCo). Grasim decides to acquire an 8.5 percent equity stake from L&T and then make an open offer to acquire another 30 percent of the equity of CemCo, in order to acquire management control of the company. UltraTech In 2004.