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Ambuja Cements completes acquisition of Penna Cement Industries

16 Aug 2024 Evaluate

Ambuja Cements has completed the acquisition of Penna Cement Industries (PCIL) on August 16, 2024. Consequently, PCIL has become a subsidiary of the Company effective from August 16, 2024.

Earlier, the company had received approval for the acquisition of 100% stake in PCIL by way of entering into binding agreement. The acquisition is in line with the company’s strategy to increase its footprint in the cement manufacturing market. Cost of acquisition is Rs 10,422 crore.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets. It is a material company of Adani Cement and part of the diversified Adani Group.


Ambuja Cement Share Price

456.35 1.85 (0.41%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 12032.20
Ambuja Cement 456.35
ACC 1438.00
Shree Cement 25575.30
Dalmia Bharat 1989.95
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