Adani Group Acquires 47% Stake In Orient Cement For Rs 8,100 Crore

Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders and the acquisition will be fully funded through internal accruals, the company said in a statement.

Ambuja Cements, the cement and building material company of the diversified Adani Group, on Tuesday announced to acquire Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore.

Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders and the acquisition will be fully funded through internal accruals, the company said in a statement.

The acquisition of OCL complements Ambuja's existing cement footprint, reducing overall lead distances and logistics costs for the cement business and improving market share in our core markets, it said.