Ambuja to acquire Penna Cement for Rs 10,422 cr, funded internally. Boosts Ambuja's southern presence, aiming for 140 MT capacity by 2028.
Penna Cement adds 14 MT capacity to Ambuja, with operations in Andhra, Telangana, and Rajasthan.
Ambuja-Penna marks the fourth major cement M&A in 20 months, showcasing industry consolidation.
Notable deals: Dalmia-JP Associates (Rs 5,666 cr), Ambuja-Sanghi (Rs 5,000 cr), Ultratech-Kesoram (Rs 7,600 cr).
Despite demand, cement prices fell 5% QoQ in Q4 FY24 due to new capacities and market competition.