UltraTech Cement Goes Electric, Aditya Birla Capital Raises ₹1100 Cr
By Sivam
UltraTech Cement deploys 45 electric heavy-duty vehicles for clinker transport in North India. Aditya Birla Capital successfully raises ₹1,100 crore via NCDs, boosting its capital base.
UltraTech Cement is deploying 45 electric heavy-duty vehicles for clinker transportation in Northern India, a significant step towards zero-emission logistics. Concurrently, financial giant Aditya Birla Capital successfully raised ₹1,100 crore through Non-Convertible Debentures (NCDs).
UltraTech’s Green Logistics Push
The world’s largest cement company outside China, UltraTech Cement, is rolling out a substantial fleet of electric trucks.
- Paradeep Parivahan and Energy In Motion (EIM) are deploying 45 EIM Ashwa 4×2, 55-tonne electric heavy-duty vehicles.
- These EVs will transport clinker from UltraTech’s integrated manufacturing unit in Rajasthan to grinding units in the Delhi-NCR region.
- This initiative marks one of the largest deployments of electric heavy-duty trucks in Northern India’s cement sector, advancing India’s zero-emission logistics goals.
Aditya Birla Capital Secures Funding
Aditya Birla Capital, a major financial services player in India, completed a significant fundraising round.
- The company raised ₹1,100 crore via Secured, Rated, Listed, Redeemable NCDs through private placement.
- ₹500 crore was raised with NCDs at an 8.26% coupon rate, maturing on June 16, 2031.
- An additional ₹600 crore came from NCDs with an 8.10% coupon rate, set to mature on September 7, 2029.