Ambuja Cements Takes Over 37.8% Shareholding in Orient Cement, Becomes Promoter

Ambuja Cements, which is owned by the Adani Group, has finalized its takeout of a 37.8% shareholding in Orient Cement Ltd (OCL), becoming the new promoter of the company. The acquisition takes Ambuja’s overall holding in OCL to 46.66% after it procured another 1.82 crore (or 8.87%) shares from public shareholders.

The deal involves 7.76 crore equity shares, amounting to 37.79% of OCL’s equity, from the CK Birla Group, which earlier controlled the promoter stake. Ambuja’s acquisition is the company taking full command of OCL, making it the exclusive promoter of the cement company.

Ambuja Cements initially announced in October, valuing the acquisition at Rs 8,100 crore as part of expansion plans. Through this acquisition, Ambuja consolidates its cement industry position and even further increases its market penetration based on growing demand in India’s building industry.