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Grapevine: Adani eyes another cement maker; SP Group firm raising funding

VCCircle

VCCircle · 10m ago

Grapevine: Adani eyes another cement maker; SP Group firm raising funding

Adani Group is reportedly set to acquire a 46.64% stake in ITD Cementation India for Rs 5,889 crore ($700 million). The deal will include a mandatory open offer and aims to enhance Adani's civil engineering capabilities. The acquisition is expected to be announced soon.

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Grapevine: Adani eyes Heidelberg’s India unit; Saregama may buy into Dharma Productions

VCCircle

VCCircle · 10m ago

Grapevine: Adani eyes Heidelberg’s India unit; Saregama may buy into Dharma Productions

- 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.

Ambuja and ACC: Are wedding bells ringing?

Livemint

Livemint · 10m ago

Ambuja and ACC: Are wedding bells ringing?

- 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.

Gautam Adani’s Ambuja Cements draws up $9-billion war plan for Ultratech battle

Livemint

Livemint · 1y ago

Gautam Adani’s Ambuja Cements draws up $9-billion war plan for Ultratech battle

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.

Adani to build its first cement factory from scratch

Livemint

Livemint · 9m ago

Adani to build its first cement factory from scratch

Adani Group is in talks with the Odisha government to build a greenfield cement factory in the state. Ambuja Cements, a subsidiary of Adani, is expected to establish a 4 million tonnes per annum unit at a cost of ₹3,000-3,500 crore. The company aims to become India's largest cement maker and has already announced plans to build a clinker grinding unit in Bihar. The Odisha plant will further expand Adani's presence in the eastern region. The group plans to finance the expansion using internal accruals and has enough funds even after recent acquisitions.

Grapevine: CVC in talks to sell IPL team stake; ENGIE to monetize renewable assets

VCCircle

VCCircle · 1y ago

Grapevine: CVC in talks to sell IPL team stake; ENGIE to monetize renewable assets

Private equity firm CVC Capital Partners is reportedly in discussions with Adani Group and Torrent Group to sell a controlling stake in the Indian Premier League (IPL) team, Gujarat Titans. CVC intends to sell a majority stake while retaining a minority ownership, according to sources. In another news, ENGIE, a French power company, is exploring options to monetize its renewable assets through a potential IPO or asset swap deals.

Promoters pump Rs 23,000 crore in 5 Adani Group companies in June quarter

Money Control

Money Control · 1y ago

Promoters pump Rs 23,000 crore in 5 Adani Group companies in June quarter

Promoters of five Adani Group firms, namely Adani Energy Solutions, Adani Enterprises, Ambuja Cement, Adani Power, and Adani Green Energy, increased their holdings by over Rs 23,000 crore in the June quarter, according to the latest shareholding data. Promoters of Ambuja Cement raised their stake by 3.59 percentage points, while Adani Green Energy saw its promoter holding increase by 1.15 percentage points. In contrast, foreign investors significantly reduced their holdings in several Adani Group companies during the same quarter. Adani Ports and SEZ, however, saw a slight increase in foreign institutional investor stake.

Adani-owned Ambuja Cements to acquire Orient Cement

VCCircle

VCCircle · 9m ago

Adani-owned Ambuja Cements to acquire Orient Cement

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%.

ETtech Deals Digest: Startups raise $1.47 billion in August; up 89% on year

Economic Times

Economic Times · 11m ago

ETtech Deals Digest: Startups raise $1.47 billion in August; up 89% on year

Startups secured a total funding of $1.47 billion in August 2024, marking an 89% increase compared to the previous year. Funding was obtained through 86 rounds, primarily in the early and late stages. Significant deals included Mumbai-based firm Zepto raising $340 million, Delhi-based DMI Finance receiving a $334 million investment from Japanese banking giant MUFG Financial Group, jewellery retailer Bluestone raising Rs 900 crore, electric scooter maker Ather Energy closing $71 million in funding, and wealth and asset management startup Neo Group raising $47.7 million.

Grapevine: Titan, Adani Group, Motherson plot M&As; GyanDhan seeks VC funding

VCCircle

VCCircle · 2m ago

Grapevine: Titan, Adani Group, Motherson plot M&As; GyanDhan seeks VC funding

Indian conglomerates Titan and Adani Group are pursuing major acquisitions, with Titan eyeing Damas International and Adani leading in bidding for Diamond Power Infrastructure. Simultaneously, Motherson Group is set to acquire Marelli Holdings, enhancing its automotive component business. In the education finance sector, GyanDhan is closing in on securing new venture capital funding, which reflects its growth and expansion ambitions. Overall, these developments highlight significant strategic moves in India's business landscape.

Adani-owned Ambuja Cements buys south Indian rival for $1.25 bn

VCCircle

VCCircle · 1y ago

Adani-owned Ambuja Cements buys south Indian rival for $1.25 bn

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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