On January 8, Adani-owned ACC Limited said that it would be taking over the remaining 55 percent stake (valued at Rs 425.96 crores) in Asian Concretes and Cements Private Limited (ACCPL) from an existing promoter at an approx Enterprise Value of Rs 775 crore, as the cement and building materials firm looks to leverage capacity amid increasing demand. Currently, ACC holds a 45 percent stake in the company.
ACC Limited (Formerly known as The Associated Cement Companies Limited) is an Indian cement producer, headquartered in Mumbai. It is a subsidiary of Ambuja Cements and a part of the Adani Group.
In a BSE filing, the Company added saying that This possession is a valuable asset considering that it will balance out ACC’s clinker facilities running in the North India Region. The deal will be fully funded through internal accruals.
”According to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that ACC Limited at its Board Meeting concluded on 08 th January 2024 has agreed to acquire Asian Concretes and Cements Private Limited,” the cement company said in an exchange filing.
As per the experts, Adani which is also a giant leader in the Cement industry, will continue to take over smaller companies and amalgamate to protect and secure market share on expectations of vigorous demand driven by increased spending on infrastructure projects running in the country.
“This acquisition reinforces Ambuja and ACC’s market leadership, elevating Adani Group’s overall cement capacity to 77.40 MTPA (million tonnes per annum),” said Ajay Kapur, CEO of ACC.
