# 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.

- Type: Acquisition
- Announced: 2024-06-13
- Where: India
- Value: $1.25B (104.2B INR)
- Status: announced
- Capacity: 14 MTPA cement capacity
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Adani Enterprises](https://endata.com/companies/5173.md) (investor)
- [Adani Enterprises](https://endata.com/companies/5173.md) (partner)
- [Ambuja Cements](https://endata.com/companies/15069.md) (acquirer)
- [Adani Group](https://endata.com/companies/15392.md) (investor)
- [Adani Group](https://endata.com/companies/15392.md) (partner)
- [Penna Cement Industries](https://endata.com/companies/78012.md) (target)
- [P. Pratap Reddy and family](https://endata.com/companies/78030.md) (target)
- [Adani Cementation](https://endata.com/companies/78296.md) (target)

## Sources

- [connect.adani.com](https://connect.adani.com/media/2024/jun24/cement/), 2024-06-13: "This landmark acquisition is a significant step forward in Ambuja Cement’s accelerating growth journey."
- [connect.adani.com](https://connect.adani.com/2024/jun2024/happenings-adani-cement/), 2024-06-13: "By acquiring PCIL, Ambuja is poised to expand its market presence in South India and reinforce its position as a pan-India leader in the cement industry."
- [thehindu.com](https://www.thehindu.com/business/ambuja-cements-to-acquire-penna-cement-for-10422-crore/article68285995.ece), 2024-06-13: "This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey."
- [business-standard.com](https://www.business-standard.com/companies/news/ambuja-cements-board-approves-adani-cementation-s-merger-with-company-124062700945_1.html), 2024-06-27: "The consolidation of cement capacities within Adani Group is to enhance operational efficiency and strengthen Ambuja Cements' coastal footprint."
- [realty.economictimes.indiatimes.com](https://realty.economictimes.indiatimes.com/news/cement/ambuja-cements-board-approves-merger-of-adani-cementation-with-company/111329119), 2024-06-28: "The consolidation of cement capacities within Adani Group is 'to enhance operational efficiency' and strengthen Ambuja Cements' coastal footprint."
- [easyrealtors.in](https://easyrealtors.in/news/ambuja-cements-adani-cementation-merger/), 2024-07-02: "Ambuja Cements, owned by the Adani Group, has announced the approval of its board for the merger with Adani Cementation Limited (ACL), a subsidiary of Adani Enterprises."
- [rodidust.com](https://www.rodidust.com/blog/ambuja-cements-to-merge-with-adani-cementation-to-boost-efficiency-and-coastal-reach/), 2024-07-08: "Ambuja Cements under the Adani Group will merge with Adani Cementation, a division of Adani Enterprises."
- [vorafin.com](https://vorafin.com/insights/ma-adani-group-acquires-100-stake-in-penna-cement/), 2024-07-08: "Ambuja will acquire 100% shares of PCIL from its existing promoter group P Pratap Reddy and family."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.