Ambuja Cements to acquire Penna Cement Industries for INR 10,422 crore

Ambuja Cements, part of Adani Group, signed a binding agreement to acquire 100% of Penna Cement Industries Ltd (PCIL) at an enterprise value of INR 10,422 crore. The acquisition will be funded through internal accruals and adds 14 MTPA cement capacity.

“This landmark acquisition is a significant step forward in Ambuja Cement’s accelerating growth journey.”connect.adani.com

• 8 sources
• connect.adani.comAdani Group acquires Penna Cement at enterprise value of Rs. 10,422 croreJun 13, 2024
• connect.adani.comJun 13, 2024
• thehindu.comAmbuja Cements to acquire Penna Cement for ₹10,422 crore - The HinduThe Hindu BureauJun 13, 2024
• business-standard.comAmbuja Cements board approves Adani Cementation's merger with company | Company News - Business StandardPress Trust of IndiaJun 27, 2024
• realty.economictimes.indiatimes.comAmbuja Cements board approves merger of Adani Cementation with company, ETRealtyET RealEstateJun 28, 2024

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