Ambuja Cements, part of the Adani Group, has received board approval for the amalgamation of ACC and Orient Cement with itself, a move aimed at creating a single, large cement company capable of competing with market leader UltraTech Cement.Along with approving the merger, the board has also cleared the share swap ratios for shareholders of ACC and Orient Cement. Under the approved terms, Ambuja Cements will issue 328 equity shares of Rs 2 face value each for every 100 equity shares of ACC with a face value of Rs 10 each, to eligible ACC shareholders. Similarly, for every 100 equity shares of Orient Cement with a face value of Rs 1 each, Ambuja Cements will issue 33 equity shares of Rs 2 face value each to eligible Orient Cement shareholders.The proposed amalgamation is expected to simplify the group’s cement operations by bringing all three companies under a single corporate structure. According to the company, the consolidation will create a strong pan-India presence and unlock operational synergies by optimising manufacturing and logistics networks, streamlining the corporate framework, strengthening the balance sheet, and enabling more efficient capital allocation to support future growth and market leadership.Commenting on the development, Karan Adani, non-executive director, Ambuja Cements, Adani Group, said, “This consolidation represents a transformational step in building a globally competitive, integrated cement and building materials organisation. By bringing Ambuja Cements, ACC, and Orient Cement under a single corporate structure, we are strengthening our ability to drive operational excellence, accelerate growth, and deliver sustainable long-term value.”He added, “This merger builds on our already proven track record to further position the business to drive efficiency and productivity. A robust and resilient balance sheet positions the unified strong entity to effectively support future growth initiatives.”The merger is expected to enhance scale, efficiency, and competitiveness in India’s rapidly consolidating cement sector.