Adani Group's firm, Ambuja Cements, is set to acquire Penna Cement for Rs 10,422 crore, expanding its market share in southern India. The deal will add 14 MTPA capacity, increasing Adani's total to 89 MTPA and providing an entry into Sri Lanka. The acquisition is seen as a strategic move towards inorganic expansion and competing with market leader UltraTech.
Adani Group’s acquisition spree continues with INR10,422 crore buyout of Penna Cements in Hyderabad. Wondering how it fits into their infra game plan? Ashutosh R Shyam breaks it down. https://t.co/Yy5YoZQIYo
🏗️ #Adani Group's new cement deal in south India signals expansion amidst booming infrastructure growth! Know more in detail here⤵️ https://t.co/5Kzcz9uuTz #Expanison #growth #infrastructure
Adani Group to acquire Penna Cement for Rs 10,422 crore, expanding its southern market. Ambuja Cements will buy 100 per cent shares, adding 14 MTPA capacity, enhancing Adani's total to 89 MTPA. https://t.co/KtvIyhSV34
Adani group firm Ambuja Cements to acquire Penna Cement at Rs 10 422 cr valuation capacity to reach 89 MTPA. The deal will increase Adani's market share in cement in southern India and give an entry into Sri Lanka. The acquisition will also improve Adani Cement's market share… https://t.co/xsLhUMxOXG
Adani group firm, Ambuja Cements' approval to acquire Hyderabad-based Penna Cement could likely be the company's first step towards a wider inorganic expansion, believe analysts. @nikita_vashisht #adani #ambujacement #pennacement https://t.co/eVNvpp7tf5
#MCProOpinion | The Adani group has long stated its objective to be among the largest cement players in India, taking on market leader UltraTech. Acquisition of Penna Cement, albeit not earnings accretive now, is a step in that direction Know more👇 https://t.co/lHiJxho09U…