Ambuja Cements, part of Adani Group, has signed a binding agreement to acquire a 46.8% stake in Orient Cement for INR 8,100 crore. This acquisition would add 16.6 MTPA capacity to Ambuja’s portfolio, bringing its total operating capacity to more than 100 MTPA by FY 25. Ambuja intends to fund the acquisition through internal accruals while staying debt-free.
CK Birla, Chairman of Orient Cement and the CK Birla Group, stated, “The CK Birla Group is continuously reallocating capital to sharpen its focus on consumer centric, technology driven and service-based businesses. I take pride in Orient Cement’s impressive track record of building premium brands and maintaining a leading market share in the geographies it operates in. We are confident that the Adani Group, with its strong focus on cement and infrastructure, is the ideal new owner to drive continued growth at Orient Cement for our people and stakeholders”.
