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Adani-owned Ambuja Cements buys south Indian rival for $1.25 bn
VCCircle
·
1y ago
Medial
Ambuja Cements, owned by the Adani group, has acquired Penna Cement Industries for $1.25 billion. This move is aimed at expanding their presence in South India and competing with market leader UltraTech Cement. The deal will increase Adani Cement's market share by 2% across India and 8% in South India. Ambuja Cements will fund the acquisition through internal accruals. Cement makers in India are focusing on increasing production to meet the growing demand in the construction sector.
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UltraTech buys 23% stake in India Cements for $226 mn
VCCircle
·
1y ago
Medial
UltraTech Cement, India's top cement producer, has announced its acquisition of a 23% stake in India Cements for $226 million. The deal will see UltraTech purchase 70.6 million shares of India Cements for up to 267 rupees each. This move comes as UltraTech aims to secure a larger market share, competing with other cement giants such as Ambuja and ACC, both part of the Adani group. Earlier this month, Ambuja acquired Penna Cement Industries for $1.25 billion.
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Gautam Adani, family raise stake in Ambuja with $800 mn infusion
VCCircle
·
1y ago
Medial
Gautam Adani and his family have invested $799 million in Ambuja Cements, increasing their stake in the company to around 67%. The investment will help Ambuja Cements expand its manufacturing capacity, with a target of reaching 140 million tonnes per annum by 2028. The infusion of funds provides Ambuja Cements with capital flexibility for accelerated growth and capital management initiatives. This investment comes after Adani Group's acquisition of Ambuja Cements and ACC from Holcim in 2022 for $10.5 billion.
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Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements | Company Business News
Livemint
·
7m ago
Medial
Adani Group's Ambuja Cements has announced the merger of Sanghi Industries and Penna Cement Industries. Shareholders of Sanghi Industries will receive 12 shares of Ambuja for every 100 shares held.
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Gautam Adani’s Ambuja Cements draws up $9-billion war plan for Ultratech battle
Livemint
·
1y ago
Medial
Billionaire Gautam Adani plans to invest $9 billion in Ambuja Cements to surpass Aditya Birla Group's Ultratech Cement as India's largest cement-maker. The plan involves increasing Ambuja Cements' capacity to at least 180 million tonnes per annum in the next three years. The Adani group aims to leverage Ambuja's cash reserves and additional capital to augment production capacity. The expansion plan includes acquisitions and investments. However, industry analysts suggest that Ultratech Cement also has expansion plans, and Ambuja Cements may take longer to surpass their capacity.
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Grapevine: Adani eyes Heidelberg’s India unit; Saregama may buy into Dharma Productions
VCCircle
·
10m ago
Medial
- Adani Group is in discussions to acquire the Indian cement operations of Heidelberg Materials, a deal worth around $1.2 billion. - The acquisition would be led by Adani group company Ambuja Cements. - Saregama, a music label and entertainment company, is considering an investment in Dharma Productions. - The details of the potential investment by Saregama into Dharma Productions are not specified. - Adani Group is India's second-largest cement producer.
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Adani family plans to raise $3.6 bn via promoter share sales
Livemint
·
11m ago
Medial
The Adani family, owners of businesses ranging from airports to edible oil, is expected to raise up to $3.6 billion by selling part of its promoter holdings in Adani group companies over the next 12-18 months. This comes as a strategy to rebalance their wealth portfolio due to the sharp increase in Adani Group firm's share prices in the past year. The family's share-sale plan includes a 0.5-3% monetization of promoter stake, beginning with the sale of a stake worth ₹3,000-4,000 crore in Ambuja Cements Ltd. Other unlisted businesses may also see stake sales.
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ACC completes acquisition of Asian Concretes and Cements
Livemint
·
1y ago
Medial
ACC Ltd, a subsidiary of Ambuja Cement Ltd owned by Adani, has acquired the remaining 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) for ₹425.96 crore ($57 million). The acquisition was funded internally and brings ACC's ownership of ACCPL to 100%. This acquisition raises ACC's total cement production capacity to 38.55 MTPA and increases the Adani Group's overall capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26. ACCPL operates a cement plant in Himachal Pradesh and a subsidiary in Punjab.
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Adani family infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%
Livemint
·
1y ago
Medial
Billionaire Gautam Adani and his family have invested $799 million to increase their stake in Ambuja Cements Ltd. The move shows confidence in India's infrastructure boom. This investment follows a previous infusion of $1.36 billion by the Adani family, raising their stake to 66.7%. Ambuja aims to achieve an annual cement production capacity of 140 million tonnes by 2028. The increased capital will support Ambuja's growth plans, enhance its balance sheet, and enable it to pursue strategic initiatives.
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Adani-owned Ambuja Cements to acquire Orient Cement
VCCircle
·
9m ago
Medial
The Adani Group's Ambuja Cements has announced its acquisition of Orient Cement in a deal worth Rs. 8,100 crore ($964 million). Ambuja will acquire 46.8% of Orient Cement from its current promoters and make an open offer to buy another 26% from public shareholders. The acquisition will be funded through internal accruals and will increase Ambuja's cement capacity by around 30 MTPA within two years. This move will help Adani Cement expand its presence in core markets and improve its market share by 2%.
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Adani Group Stock End Higher as Markets Bounce Back after Sharp Fall
OutlookIndia
·
2m ago
Medial
All 11 listed Adani Group firms experienced a positive surge on Tuesday following a market recovery after a sharp decline. Adani Enterprises, Adani Total Gas, and Adani Energy Solutions each rose over 3%, while Ambuja Cements increased by 2.53%. The combined market valuation of the group reached Rs 12,18,530 crore. This upturn aligned with a significant rebound in the broader stock markets, with the BSE Sensex and NSE Nifty jumping 1.49% and 1.69%, respectively.
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