Ambuja Cements Expands Hold with Stake in Orient Cement

Ambuja Cements, owned by the Adani Group, has acquired a significant stake in Orient Cement Ltd, part of the CK Birla group. This acquisition increases its total shares to 46.66%, making Ambuja the primary promoter. The acquisition was part of an Rs 8,100 crore expansion strategy announced last October.

Ambuja Cements, a key player in the cement industry owned by the Adani Group, has successfully completed the acquisition of a 37.8% promoters' stake in Orient Cement Ltd, belonging to the CK Birla group.

This strategic move raises Ambuja Cements' total shareholding in Orient Cement to 46.66%, following an additional acquisition of an 8.87% stake from public shareholders.

As a result of these acquisitions, Ambuja Cements has gained sole control of Orient Cement, establishing itself firmly as the company's promoter. This acquisition is part of Ambuja's broader expansion plan, valued at Rs 8,100 crore, announced last October.

(With inputs from agencies.)