Adani Group-owned cement manufacturer Ambuja Cement has acquired Orient Cement Limited (OCL) at an equity value of Rs 8,100 crore to achieve 100 MTPA cement production capacity in FY25 and increase its share in the Indian market by 2%. It was announced on Tuesday.
Cement giant Ambuja Cement will buy a total of 46.8% stake in Orient Cements. The company has also offered to acquire an additional 26% stake. According to the company’s statement sent to the stock exchange, “Within 3-4 months, the deal will be completed as per the open offer provisions. The open offer is being made at Rs 395.40 per equity share, which has been determined as per SAST (Substantial Acquisition of Shares and Takeovers) regulations.”
