NCLT Approves Adani Cementation Merger with Ambuja Cements
Cement

NCLT Approves Adani Cementation Merger with Ambuja Cements

The National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation into Ambuja Cements, clearing the way for the Adani Group to streamline its cement operations under a single entity. The Ahmedabad bench passed the order on 18 July, allowing Ambuja Cements to absorb all assets, operations, and liabilities of Adani Cementation effective from 1 April 2024.
This consolidation includes project sites, licences, and ongoing developments, all of which will now be managed directly by Ambuja.
As part of the merger, Adani Enterprises will receive 8.7 million equity shares of Ambuja Cements, reflecting the share swap agreed in the group’s internal restructuring announced in June last year.
The tribunal confirmed that no further agreements or approvals are necessary to complete the transfer, with all existing rights and obligations of Adani Cementation automatically transferring to Ambuja.
Ambuja must comply with regulations set by market regulator SEBI and relevant stock exchanges including BSE, NSE, and the Luxembourg Stock Exchange, where its global depository receipts are listed.
Company officials noted the merger will reduce duplicate processes and improve coordination across business units, granting Ambuja access to additional resources without further regulatory hurdles.
A key advantage is Ambuja’s ability to begin work immediately at Adani Cementation’s existing project sites. These include large limestone reserves in Lakhpat, Gujarat, estimated at 275 million tonnes, and a planned cement facility at Raigad, Maharashtra.
Ambuja Cements has been expanding rapidly, crossing 100 million tonnes of production capacity last financial year. The company targets growth to 118 million tonnes by FY26 and 140 million tonnes by FY28, mostly through brownfield projects.
The Adani Group entered the cement sector in 2022 by acquiring Holcim’s stakes in Ambuja and ACC for Rs 532 billion (6.4 billion dollars). Since then, Ambuja has acquired regional players such as Penna Cement, Sanghi Industries, and most recently Orient Cement.
With these expansions, Adani has become India’s second-largest cement manufacturer. UltraTech Cement, part of the Aditya Birla Group, remains the market leader with a total capacity exceeding 192 million tonnes.

The National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation into Ambuja Cements, clearing the way for the Adani Group to streamline its cement operations under a single entity. The Ahmedabad bench passed the order on 18 July, allowing Ambuja Cements to absorb all assets, operations, and liabilities of Adani Cementation effective from 1 April 2024.This consolidation includes project sites, licences, and ongoing developments, all of which will now be managed directly by Ambuja.As part of the merger, Adani Enterprises will receive 8.7 million equity shares of Ambuja Cements, reflecting the share swap agreed in the group’s internal restructuring announced in June last year.The tribunal confirmed that no further agreements or approvals are necessary to complete the transfer, with all existing rights and obligations of Adani Cementation automatically transferring to Ambuja.Ambuja must comply with regulations set by market regulator SEBI and relevant stock exchanges including BSE, NSE, and the Luxembourg Stock Exchange, where its global depository receipts are listed.Company officials noted the merger will reduce duplicate processes and improve coordination across business units, granting Ambuja access to additional resources without further regulatory hurdles.A key advantage is Ambuja’s ability to begin work immediately at Adani Cementation’s existing project sites. These include large limestone reserves in Lakhpat, Gujarat, estimated at 275 million tonnes, and a planned cement facility at Raigad, Maharashtra.Ambuja Cements has been expanding rapidly, crossing 100 million tonnes of production capacity last financial year. The company targets growth to 118 million tonnes by FY26 and 140 million tonnes by FY28, mostly through brownfield projects.The Adani Group entered the cement sector in 2022 by acquiring Holcim’s stakes in Ambuja and ACC for Rs 532 billion (6.4 billion dollars). Since then, Ambuja has acquired regional players such as Penna Cement, Sanghi Industries, and most recently Orient Cement.With these expansions, Adani has become India’s second-largest cement manufacturer. UltraTech Cement, part of the Aditya Birla Group, remains the market leader with a total capacity exceeding 192 million tonnes.

Next Story
Infrastructure Urban

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Next Story
Infrastructure Energy

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Next Story
Infrastructure Urban

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Get CW App