Ambuja Cements to acquire Orient Cement for ₹8,100 crore

Ambuja Cements, part of the Adani Group, announced signing of a binding agreement to acquire Orient Cement Ltd (OCL) for an equity value of ₹ 8,100 crore on Tuesday, October 22. Ambuja will purchase a 46.8% stake in OCL from its existing promoters and select public shareholders.

The entire acquisition will be financed through internal accruals. (More to come).