Ambuja's Strategic Cement Acquisition: A Bold Move Towards Expansion

Ambuja Cements, part of the Adani Group, plans to acquire a 72.8% stake in Orient Cement for Rs 8,100 crore, enhancing its capacity by 16.6 MTPA. CCI has approved the proposal which includes a mix of promoter and public shares. The acquisition aligns with Adani's expansion in the cement sector.

The Competition Commission of India (CCI) has given the green light to Ambuja Cements' ambitious proposal to secure a majority stake in CK Birla group firm Orient Cement Ltd in a deal valued at Rs 8,100 crore.

Ambuja Cements, aligned with the Adani Group, aims to acquire 72.8% of Orient Cement's shares, increasing its cement production capacity by 16.6 million tonnes per annum (MTPA). The acquisition involves a combination of promoter-held and public shares.

Furthermore, in alignment with its expansion strategy in India's cement sector, Adani Group has been on an acquisition streak, boosting its presence and operational capabilities through strategic investments, including PSP Projects Ltd under Adani Infra.

(With inputs from agencies.)