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Ambuja and ACC: Are wedding bells ringing?

Livemint · 6m

- Adani group is considering merging Ambuja Cements Ltd and ACC Ltd into a single entity, creating a cement behemoth worth over ₹2 trillion. - Jefferies and Axis Capital have been appointed to advise on the merger, which would be the largest in India's cement industry. - The merger is likely to be executed through a share swap, with the combined entity named Adani Cement Ltd. - The goal of the merger is for Adani Cement Ltd to become India's top cement maker by 2028, surpassing Ultratech Cement Ltd. - The merger may also include Sanghi Industries to bring all listed cement-making firms under one entity. - Procedural challenges related to the transfer of mining and leasing rights may arise during the merger process.