New Delhi, Oct 22 (Reporter) Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, on Tuesday announced the signing of a binding agreement for the acquisition of Orient Cement Ltd. (OCL) at an equity value of Rs 8,100 crore. Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders. The acquisition will be fully funded through internal accruals, Ambuja Cement said in a regulatory filing with the stock exchanges. The Adani Group is a leading and highly recognised group with a portfolio of world-class businesses ranging from infrastructure to energy. The CK Birla Group, an Indian multinational conglomerate with over 150 years of business and philanthropic contributions, operates in diverse sectors including technology, automotive, home and building, and healthcare, where it continues to invest. CK Birla, Chairman of Orient Cement and the CK Birla Group, said, “The CK Birla Group is continuously reallocating capital to sharpen its focus on consumer-centric, technology-driven, and service-based businesses. I take pride in Orient Cement’s impressive track record of building premium brands and maintaining a leading market share in the geographies it operates in. We are confident that the Adani Group, with its strong focus on cement and infrastructure, is the ideal new owner to drive continued growth at Orient Cement for our people and stakeholders.”. “This timed acquisition marks another significant step forward in Ambuja Cements’ accelerated growth journey, increasing cement capacity by about 30 MTPA within two years of Ambuja’s acquisition,” said Karan Adani, Director of Ambuja Cements. By acquiring OCL, Ambuja is poised to reach 100 MTPA cement capacity in FY 25. The acquisition will help to expand Adani Cement’s presence in core markets and improve its pan-India market share by 2%. OCL’s assets are highly efficient, equipped with railway sidings, and well supported by captive power plants, renewable energy, WHRS, and AFR facilities. OCL’s strategic locations, high-quality limestone reserves, and requisite statutory approvals present an opportunity to increase cement capacity in the near term to 16.6 MTPA, the company said. Amita Birla, Co-Chairman, CK Birla Group, added, “Orient Cement has a strong market presence, with sustainability initiatives, particularly in renewable energy, being a significant part of its DNA. I am convinced that Ambuja Cements is the right home for all our colleagues at Orient Cement, as well as our customers.” The transaction is subject to regulatory approvals, including approval by the Competition Commission of India and a mandatory open offer under the relevant SEBI regulations...////...