📊 Ambuja Cements to acquire Penna Cement Industries for Rs 10,422 crore 📊
📮 Adani Group-owned Ambuja Cements on June 13 said it will acquire 100 percent stake in Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs 10,422 crore. The move comes as Adani targets capacity of 140 million tonne per annum (MTPA) by 2028.
📮 "Indicative time period for completion of the acquisition is within 3 – 4 months," said Ambuja Cements in a stock exchange filing. Amubja will acquire the stake from PCIL promoter group P Pratap Reddy and family. The acquisition will be fully funded through internal accruals, according to the statement.
📮 Adani Group-owned Ambuja Cements on June 13 said it will acquire 100 percent stake in Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs 10,422 crore. The move comes as Adani targets capacity of 140 million tonne per annum (MTPA) by 2028.
📮 "Indicative time period for completion of the acquisition is within 3 – 4 months," said Ambuja Cements in a stock exchange filing. Amubja will acquire the stake from PCIL promoter group P Pratap Reddy and family. The acquisition will be fully funded through internal accruals, according to the statement.