+
Adani's Ambuja to acquire 46.8% stake in Orient Cement
Cement

Adani's Ambuja to acquire 46.8% stake in Orient Cement

The Adani group’s Ambuja Cements on Tuesday announced its third acquisition of the ongoing financial year, with a binding agreement to acquire a 46.8% stake in the C K Birla family-owned Orient Cement Limited (OCL) for an equity value of Rs 810 billion. The deal, set to trigger an open offer, will push the Adani group’s cement capacity to 97.4 million tonnes per annum (mtpa) but still behind India’s largest producer, UltraTech Cement, which has a capacity of 150.7 mtpa. To meet market regulations, Ambuja Cements will make an open offer at Rs 395.40 per share to the public shareholders of OCL. The company, it said, plans to acquire 37.90 % from OCL’s promoters and another 8.90 % from other shareholders under the share purchase agreement. In addition, a further 26 % stake in the expanded share capital pursuant to the open offer. Orient Cement, in Tuesday's trade, closed at Rs 343.40 per share, down 2.5 percent.

The Adani group’s Ambuja Cements on Tuesday announced its third acquisition of the ongoing financial year, with a binding agreement to acquire a 46.8% stake in the C K Birla family-owned Orient Cement Limited (OCL) for an equity value of Rs 810 billion. The deal, set to trigger an open offer, will push the Adani group’s cement capacity to 97.4 million tonnes per annum (mtpa) but still behind India’s largest producer, UltraTech Cement, which has a capacity of 150.7 mtpa. To meet market regulations, Ambuja Cements will make an open offer at Rs 395.40 per share to the public shareholders of OCL. The company, it said, plans to acquire 37.90 % from OCL’s promoters and another 8.90 % from other shareholders under the share purchase agreement. In addition, a further 26 % stake in the expanded share capital pursuant to the open offer. Orient Cement, in Tuesday's trade, closed at Rs 343.40 per share, down 2.5 percent.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?