Employees at India Cements have been reassured by managing director and vice chairman N Srinivasan that their careers would not be impacted by UltraTech Cement's purchase. He assured them that they need not fear for their future since it is in good hands.

"Your career will not alter as a result of the switch from India Cements to UltraTech. I've received assurance. The chairman of Birla Group, with whom I spoke, stated that they will continue with our current course of action. There is going to be room for everyone. Just minutes after the board meeting on Sunday, he addressed the staff via a 13-minute video message. "They won't witch hunt anybody and good workers will be rewarded," he said.

The cement industry expert traced the history of the 75-year-old company and disclosed the rationale behind selling the top cement-producing company in south India. "Our rivals believed they could outbid us with low pricing, but we had to contend with somewhat higher production costs. We had made every effort to lower our expenses. We were reliant on an investor in the meantime, who was supposed to purchase a large portion of our excess land and therefore relieve us of a lot of our troubles. However, that did not occur, so we came up with a plan to sell the business," he stated.

N Srinivasan and his family reached an agreement with billionaire Kumar Mangalam Birla to buy their cement company for Rs 3,954 crore. This increased UltraTech's 23% shareholding in June. India Cements will become a subsidiary of UltraTech at the conclusion of the purchase procedures.