ACC acquires remaining stake in Asian Concretes & Cements at ₹775cr
ACC Limited has acquired the remaining 55% stake in Asian Concretes & Cements Pvt Ltd (ACCPL) from its existing promoter at an enterprise value of ₹775 crore, thereby achieving full ownership of ACCPL. The enterprise value includes Cash & Cash Equivalent of ₹35 crore.
ACCPL has 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements Pvt Limited (AFCPL) has 1.5 MTPA cement capacity in Rajpura (Punjab).
Ajay Kapur, WTD and CEO, ACC Limited, expressed, “This strategic move enhances ACC’s cement capacity and progress on overall target of 140 MTPA capacity of Adani’s Cement Business by 2028. While ACC has an existing tolling arrangement with the Nalagarh unit, Rajpura plant’s additional 1.5 MTPA capacity will strategically cater to a vast customer base across three states – Himachal Pradesh, Haryana, and Punjab. ACC and Ambuja Cements possess sufficient clinker to support the Rajpura plant, inclusive of its future expansions.”
ACCPL has 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements Pvt Limited (AFCPL) has 1.5 MTPA cement capacity in Rajpura (Punjab).
Ajay Kapur, WTD and CEO, ACC Limited, expressed, “This strategic move enhances ACC’s cement capacity and progress on overall target of 140 MTPA capacity of Adani’s Cement Business by 2028. While ACC has an existing tolling arrangement with the Nalagarh unit, Rajpura plant’s additional 1.5 MTPA capacity will strategically cater to a vast customer base across three states – Himachal Pradesh, Haryana, and Punjab. ACC and Ambuja Cements possess sufficient clinker to support the Rajpura plant, inclusive of its future expansions.”
