Adani Group Solidifies Cement Dynasty with Orient Cement Acquisition

Adani Group's Ambuja Cements has acquired a 37.8% stake of Orient Cement Ltd, making it a promoter with a 46.66% equity share. This acquisition is part of Adani's strategy to expand its cement capacity, aiming for 140 MTPA by 2028. The leadership of OCL also sees significant changes.

In a strategic move to enhance its stronghold in India's cement sector, Adani Group-owned Ambuja Cements has officially become the promoter of Orient Cement Ltd (OCL) after acquiring a substantial 37.8% stake from the CK Birla group.

This places Ambuja Cements' total shareholding in OCL at an impressive 46.66%, including shares acquired from both the promoter group and public stakeholders.

The acquisition, initially announced in October last year, was valued at Rs 8,100 crore and marks a significant milestone in Ambuja's ongoing expansion drive.

Executive restructuring at OCL accompanies this ownership transition, with the company's directors, including Chandrakant Birla, resigning. New leadership appointments have been made, including Vaibhav Dixit as Executive Director and Vinod Bahety as Chairman.

Adani's ambitions to elevate its market position continue, with a long-term goal of achieving a cement production capacity of 140 MTPA across India by FY28. These efforts are complemented by other notable acquisitions, including Penna Cement and Sanghi Industries Ltd.

(With inputs from agencies.)