Deal: Adani Group company Ambuja Cement will buy stake of 8100 crores in Orient Cement, know the details

Adani Group-owned cement maker Ambuja Cement has acquired Orient Cement Ltd (OCL) for an equity value of Rs 8,100 crore to achieve 100 MTPA cement production capacity by FY25 and increase its Indian market share by 2%, it announced on Tuesday.

Cement giant Ambuja Cement will buy a total of 46.8% stake in Orient Cements. The company has also made an offer 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 the SAST (Substantial Acquisition of Shares and Takeovers) regulations.”

After the announcement of the acquisition deal, the shares of both the concerned cement companies were seen trading in the green. By 9:20 am, Ambuja shares rose 1.49% to Rs 580, while Orient Cement shares were seen trading 1.65% higher at Rs 358.25.