Adani's Ambuja Cements acquires Penna Cement Industries Ltd for ₹10,422 crore, adding 14 MTPA capacity.

Adani's Ambuja Cements acquires Penna Cement Industries Ltd (PCIL) for ₹10,422 crore, adding 14 MTPA capacity to the company. This acquisition is part of Adani's strategy to achieve a capacity of 140 MTPA by 2028 and will increase Adani Cement's nationwide market share by approximately 2% and by about 8% in South India. The deal will be funded through internal accruals and is expected to complete in 3-4 months.