Ambuja Cements completes acquisition of Penna Cement Industries Ltd for Rs 10,422 crore
Acquiring Company
Ambuja Cements
Acquired Company
Penna Cement Industries Ltd (PCIL)
MumbaiHyderabadManufacturingConstructionBuilding MaintenanceBuilding MaterialWholesale Building MaterialsWholesaleManufacturingDescription
Ambuja Cements, owned by the Adani Group, has signed a binding agreement for the acquisition of Hyderabad-based Penna Cement Industries Ltd at an enterprise value of Rs 10,422 crore. This strategic acquisition will significantly increase Ambuja Cements' total capacity to 89 MTPA, enabling it to reach the target capacity of 140 MTPA by 2028. The acquisition reinforces Ambuja's position as a pan-India leader in the cement industry, with expanded market presence in south India.
Quick answer
Ambuja Cements is acquiring Penna Cement Industries Ltd (PCIL) for $1.1 billion, announced June 13, 2024. Ambuja Cements is based in Mumbai, Maharashtra, India.
- How much did Ambuja Cements pay for Penna Cement Industries Ltd (PCIL)?
- The reported deal value is $1.1 billion.
- What does Ambuja Cements do?
- Ambuja Cements Ltd. is among the leading cement companies in India.
- Where are Ambuja Cements and Penna Cement Industries Ltd (PCIL) based?
- Ambuja Cements is based in Mumbai, Maharashtra, India. Penna Cement Industries Ltd (PCIL) is based in Hyderabad, Telangana, India.
- Who are the decision-makers at Ambuja Cements?
- Fundz holds 4 contacts at Ambuja Cements. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Penna Cement Industries Ltd (PCIL)?
Penna Cement Industries Ltd (PCIL) was acquired by Ambuja Cements, based in Mumbai. The deal was reported on June 14, 2024. Ambuja Cements Ltd. is among the leading cement companies in India. It is a member of the Adani Group - the largest and fastest-growing portfolio of diversified sustainable businesses. Ambuja Cements is privately held and operates in Manufacturing.
When did Ambuja Cements acquire Penna Cement Industries Ltd (PCIL)?
Ambuja Cements's acquisition of Penna Cement Industries Ltd (PCIL) was reported on June 14, 2024. Ambuja Cements, owned by the Adani Group, has signed a binding agreement for the acquisition of Hyderabad-based Penna Cement Industries Ltd at an enterprise value of Rs 10,422 crore. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Penna Cement Industries Ltd (PCIL) do?
Penna Cement Industries Ltd (PCIL) is a leading cement company with a 14 MTPA capacity in Andhra Pradesh, Telangana, and Rajasthan (under construction). It is privately held, operating in Manufacturing, and is based in Hyderabad.
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