Ambuja Cements to Repay Rs.30 Bn Penna Debt Post Deal

17 Jun 2024 CW Team

Ambuja Cements has announced its plan to repay ?30 billion of Penna Cement's debt once the acquisition deal is finalised within the next three to four months. This strategic move is part of Ambuja Cements' broader effort to strengthen its market position and financial health. The acquisition, valued at ?42 billion, is expected to significantly enhance Ambuja's production capacity and geographic reach.

Penna Cement, a prominent player in the Southern Indian market, brings substantial assets and a well-established distribution network to the table. The acquisition will enable Ambuja Cements to leverage these assets, expanding its footprint in the region and increasing its overall market share.

Upon the deal's closure, Ambuja Cements plans to utilise its strong cash reserves and internal accruals to repay the debt. This approach underscores the company's robust financial strategy and its commitment to maintaining a healthy balance sheet. By reducing the debt burden, Ambuja aims to improve its financial flexibility, allowing for future growth and investment opportunities.

The acquisition is also expected to generate significant operational synergies, including cost efficiencies and improved supply chain management. Ambuja Cements anticipates that these synergies will enhance its competitive edge and drive long-term profitability.

This deal marks a pivotal moment in the Indian cement industry, highlighting the ongoing consolidation trend as companies strive for greater market dominance and operational efficiency. Ambuja Cements' strategic acquisition and debt repayment plan underscore its commitment to sustainable growth and value creation for its stakeholders.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..