Cement Sector Consolidation Continues: Orient Cement to be acquired by Adani Group's Ambuja Cement

The shopping spree for the Adani group seems to be unstoppable. Recently, Adani group announced yet another acquisition in the cement space. This time it is Orient Cement Limited.

- Anirudha Jain

Within no time, Adani group has become the second largest cement producer in India. After the marquee acquisition of Ambuja Cements Limited and ACC Limited, the Adani group is in a rush to acquire all small cement companies to be in a race to become numero uno in the cement space.

Ambuja Cements Ltd ("Ambuja") is one of India's leading cement companies and a member of the diversified Adani Group. Ambuja, with its subsidiaries ACC Ltd, Penna Cement Industries Ltd, and Sanghi Industries Ltd, has taken the Adani Group's cement capacity to 88.9 MTPA, with 20 integrated cement manufacturing plants, 20 cement grinding units, and 12 bulk terminals across the country. The equity shares of Ambuja Cements Limited are listed on nationwide bourses.

Adani Group is one of India's leading conglomerate groups having diversified interests ranging from Mines to Airports to Power to Cement. The group is led by Mr. Gautam Adani. In the past, Adani group has facilitated enormous returns to stakeholders through multiple restructurings and business growth. Currently, the group has a couple of operating listed and unlisted entities.