21-Aug-2026      18:44

UltraTech Cement, Hindalco, and Grasim form UHG Holdings in Gujarat’s GIFT City

UltraTech Cement Limited announced the incorporation of UHG Holdings IFSC Private Limited on August 20, 2026, in Gujarat International Finance Tec-City (GIFT City), with Hindalco Industries Limited and Grasim Industries Limited as joint incorporators. UHG Holdings, which has a corporate identification number of U64910GJ2026PTC182701, is an associate of UltraTech Cement and will seek approval from the International Financial Services Centres Authority (IFSCA), with UltraTech Cement holding a 41% stake, Hindalco Industries Limited holding 50%, and Grasim Industries Limited holding 9% in the newly formed entity.

News source: Capital Market - Live News