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ACC-Ambuja: Know about the cement industry’s most anticipated bidding
As tension mounts and speculations continue being made, the Indian cement industry has been closely watching the progress of Holcim Group’s exit from the country. The Swiss giant set off a whirlwind by putting its two listed cement arms – ACC and Ambuja – out in the market to evaluate options for their stake sale.
Holcim holds a 63.19 per cent share in Ambuja and 4.48 per cent in ACC, which is an Ambuja subsidiary. Ambuja additionally holds its own stake of 50.05 per cent in ACC. Holcim Group’s global cement capacity as of the current financial year is 293 mtpa with around 24 per cent of its total capacities housed in India. Ambuja’s current reported grinding capacity is 31.4 mtpa with plans to expand capacity to 39.9 mtpa by 2024, while ACC’s has been calculated at 34.9 mtpa to be increased to 39.7 mtpa by the first half of the next year...
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