Ambuja Cements Acquires Penna Cement for ₹10,422 Cr

Penna Cement Industries Limited
Ambuja Cements has announced the acquisition of 100% shares of Penna Cement Industries Limited, making Penna Cement a wholly owned subsidiary. This acquisition will enhance Ambuja Cements' presence in South India and expand its reach to markets in Sri Lanka.

The deal, valued at ₹10,422 crore, will be fully funded through internal accruals. It includes the acquisition of 14 million tonnes per annum (MTPA) cement capacity, with an additional 4 MTPA capacity under construction at Jodhpur IU and Krishnapatnam GU, to be completed by the seller.
📅 Published on: 14 June 2024
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