The board of Ambuja Cements, the flagship cement company under the Adani Group, has approved the amalgamation of ACC Limited and Orient Cement Limited into the company, it said in an exchange filing on Monday evening.
The move is to consolidate the Adani Group’s cement operations into a single corporate platform and is subject to regulatory and shareholder approvals.
The transaction will be executed through two separate schemes of amalgamation and is expected to be completed over the next year. As part of the merger, shareholders of ACC and Orient Cement will be issued equity shares of Ambuja Cements under pre-defined swap ratios.
Financial structuring
For every 100 equity shares of ACC with a face value of Rs 10 each, eligible shareholders will receive 328 equity shares of Ambuja Cements with a face value of Rs 2 each. Similarly, for every 100 equity shares of Orient Cement with a face value of Re 1 each, shareholders will receive 33 equity shares of Ambuja Cements with a face value of Rs 2 each.
The company said the consolidation would create a pan-India cement platform by optimising manufacturing and logistics networks, simplifying the corporate structure, and enabling more efficient capital allocation. Ambuja said the merger would help rationalise branding, sales promotion and network-related costs, resulting in a margin improvement of at least Rs 100 per tonne.
Ambuja’s statement
“This consolidation represents a transformational step in building a globally competitive, integrated cement and building materials organisation. By bringing Ambuja Cements, ACC, and Orient Cement under a single corporate structure, we are strengthening our ability to drive operational excellence, accelerate growth, and deliver sustainable long-term value,” Karan Adani, non-executive director, Ambuja Cements, said.
The company added that the amalgamation would support its broader strategy to scale cement capacity from 107 MTPA to 155 MTPA by FY28, while maintaining established product brands such as Ambuja and ACC under a unified corporate structure.
“The Scheme of Amalgamation of Sanghi Industries and Penna Cement with Ambuja are also at different stages of approval. Post approvals, all stakeholders will engage with a single, unified company,”