UltraTech Cement has acquired a 23% stake in India Cements for around Rs 1,900 crore, preventing potential future bids for the leading peninsular manufacturer, as the race intensifies to control capacities in a highly...
Ambuja Cements board approves merger of Adani Cementation with company
Adani group-owned Ambuja Cements said its board has approved the merger of Adani Cementation, which is now a subsidiary of Adani Enterprises. After the approval of the Scheme of Amalgamation of Adani Cementation, after...
Board of UltraTech Cement approves acquisition of 23% stake in India Cements
At meeting held on 27 June 2024. The Board of UltraTech Cement at its meeting held on 27 June 2024 has approved making a financial investment to purchase upto 7.06 crores equity shares of India Cements at a price of...
UltraTech Cement revises offer, to acquire 25 pc of UAE-based RAKWCT
Almost a month after making an offer to acquire 31.6 per cent in UAE-based RAKWCT, Aditya Birla group firm UltraTech Cement on Tuesday said it has revised the deal to 25 per cent. UltraTech had on May 27 said it had...
Promoters Ambuja Cements, Ravi Sanghi to sell 3.52% stake in Sanghi Industries
Sanghi Industries’ promoters Ambuja Cements and Ravi Sanghi will sell stakes in the company via offer for sale (OFS), the cement manufacturer said on Tuesday in an exchange filing. The promoters proposed to sell...
Ambuja Cements’ Penna acquisition could take time to bear fruit
With an eye on the southern markets, Ambuja Cements Ltd last week announced plans to acquire Hyderabad-based Penna Cement Industries Ltd. Penna has a cement manufacturing capacity of 14 million tonnes per annum...
Ambuja cements deal to acquire Hyderabad-based Penna
Adani Group unit Ambuja Cement is to acquire Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, adding to its capacity and market share in southern India. Mumbai-headquartered Ambuja Cement will...
Bankruptcy court admits ICICI Bank’s insolvency resolution plea against Jaiprakash Associates
The bankruptcy court in Allahabad admitted Jaiprakash Associates Ltd (JAL) for corporate insolvency almost six years after ICICI Bank filed an application. The tribunal, while admitting the company under the Corporate...
UltraTech Cement offers to acquire 31.6 per cent in UAE-based RAKWCT
Aditya Birla Group firm UltraTech Cement on Monday said it has made an offer to acquire a 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This would be done by...
Adani group increase its stake in Ambuja Cements to 70.3% by converting warrants
The Adani Group has increased its stake in Ambuja Cements by 3.6%, bringing it to 70.3%, through the conversion of warrants into equity. The company announced on Wednesday that the Adani family, promoters, has fully...
Adani’s Ambuja Cements to buy My Home Group’s grinding unit in TN for Rs 413.75 crore
Ambuja Cements on Monday said it will acquire My Home Group’s cement grinding unit at Tuticorin in Tamil Nadu for a total value of Rs 413.75 crore. The company — a part of the Adani Group — has signed...
Adani cements its Ambuja stake with₹6,661 cr infusion
The Adani family has infused ₹6,661 crore into Ambuja Cements, raising its stake by 3.6% to 66.7%. This is the second fund infusion since late-2022 when the promoter had invested ₹5,000 crore into the company through...
