The company asserted that the full acquisition will strengthen ACC's and Ambuja Cements' market leadership in the North India market.
ACC, a cement and building materials company owned by the Adani Group, has successfully completed the full acquisition of Asian Concretes and Cements (ACCPL) from its current promoter, reaching an enterprise value of Rs 775 crore. Initially holding 45% in ACCPL, ACC went on to acquire the remaining 55%, thus achieving complete ownership of ACCPL.
According to the company, the enterprise value incorporates a cash and cash equivalent amounting to Rs 35 crore. The entire acquisition is financed through internal accruals. The company emphasized that the comprehensive acquisition will reinforce the market leadership of both ACC and Ambuja Cements in the North India market.
As of the latest update, ACC shares were trading 1.30% lower at Rs 2,346.40. At this price, the stock has declined by 4.71% over the past year.
This strategic move will augment ACC's cement capacity, aligning with the overall target of achieving a 140 MTPA capacity for Adani's cement business by 2028, up from the current 77.40 MTPA.
ACCPL boasts a 1.3 MTPA cement capacity in Nalagarh, Himachal Pradesh, while its subsidiary, Asian Fine Cements, possesses a 1.5 MTPA cement capacity in Rajpura, Punjab. The capacity of the Rajpura plant is positioned to serve a vast customer base spanning Himachal Pradesh, Haryana, and Punjab. ACC and Ambuja Cements have ample clinker reserves to support the Rajpura plant and its future expansions.
Adani Group's cement capacity is set to touch 106 MTPA by the fiscal year 2026.
ACC, a subsidiary of Ambuja Cements and a component of Adani Cement, manages 20 cement manufacturing sites and more than 82 concrete plants throughout India. ACC holds the distinction of being the initial Indian cement company to commit to the net-zero pledge.
