Adani targets multiple cement firms to surpass UltraTech. With a $3B war chest, Adani aims to boost cement capacity significantly in the next 3-4 years.
The group is eyeing Penna Cement, Saurashtra Cement, Jaiprakash Associates' cement business, and Vadraj Cement for potential takeovers.
With the Centre's infrastructure push, India’s cement demand is set to rise. Penna Cement’s valuation could reach Rs 9,000 crore.
Adani targets multiple cement firms to surpass UltraTech. With a $3B war chest, Adani aims to boost cement capacity significantly in the next 3-4 years.
Both Jaiprakash Associates and Vadraj Cement are undergoing bankruptcy proceedings. Adani could capitalize on these distressed assets.
Ambuja Cement is Adani’s preferred acquisition vehicle, given its strong financials, with ACC as an alternative for better synergies in South India.