The acquisition will increase Ambuja Cement’s production by 30 million tons annually, helping it reach 100 MTPA by FY25, and enhancing its market share.
The open offer to acquire a 26% additional stake will be completed in 3-4 months. Ambuja will purchase 46.8% of shares from Orient’s current promoters.
Following the acquisition announcement, Ambuja shares rose by 1.49% to ₹580, and Orient shares gained 1.65%, trading at ₹358.25 recorded at 9:20 AM,22 nd October 2024.
Adani Group continues its cement industry expansion, having acquired Ambuja and ACC in 2022, further strengthening its hold in the infrastructure sector.
This acquisition strengthens Ambuja Cement’s market presence, particularly in core regions, and is part of Adani’s broader strategy to grow in cement.