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Ambuja Cements to buy Penna Cement, expand play in South India

Ambuja Cements to buy Penna Cement, expand play in South India

This story was originally published at 20:17 IST on June 13, 2024  Back
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By Shiladitya Pandit

Adani Group-owned cement giant Ambuja Cements Ltd announced that it has entered into a binding agreement to fully acquire Hyderabad-based cement maker Penna Cement Industries Ltd for an enterprise value of 104.22 bln rupees. With this, the Adani Group continues its expansion spree in cement, having acquired Sanghi Industries last year.

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