Adani Group company Ambuja Cement to buy stake worth Rs 8100 crore in Orient Cement

New Delhi| Ambuja Cement, a cement manufacturer owned by Adani Group, has acquired Orient Cement Limited (OCL) at an equity value of Rs 8,100 crore to acquire 100 MTPA cement production capacity in FY25 and increase its share in the Indian market by 2%. This was announced on Tuesday.

The cement business giant Ambuja Cement will buy a total stake of 46.8% of Orient Cements. The company has also offered to acquire an additional 26% stake. “Within 3-4 months, this deal will be completed as per the open offer provisions”, according to the company statement sent to the stock exchange. The open offer is being made at Rs 395.40 per equity share, determined in accordance with the SAST (Substantial Acquisitions of Shares and Takeovers) Regulations.

Shares of the two respective cement companies were seen trading in the green mark after the acquisition deal was announced, with Ambuja’s shares rising 1.49% to Rs 580 by 9:20 am, while Orient Cement shares were seen trading 1.65% higher at Rs 358.25.