Adani Group can acquire many companies in the cement sector. The group is valuing several cement companies including Hyderabad’s Penna Cement, Gujarat’s Saurashtra Cement and Jaiprakash Associates’ cement business along with ABG Shipyard-owned Vadraj Cement. Economic Times has given this information in one of its reports. According to the report, Adani Group is intensifying its efforts to capture about a fifth of the Indian cement market by FY28. Currently, Adani is the second market leader company in this sector after UltraTech. No information has been officially given about any such deal by Adani Group or any other company. Adani Group set aside $3 billion fund for acquisition According to the report, Adani Group has set aside a fund of $3 billion (about ₹25 thousand crores) to acquire these companies. The group wants to become the largest cement manufacturing company by surpassing Aditya Birla Group’s UltraTech in the next 3-4 years. The Indian cement industry is poised for growth and cement demand is expected to grow at a compounded annual growth rate (CAGR) of 7%-8% over the next five years. Adani Group bought Ambuja Cement and ACC Cement in June 2022 Adani Group bought Ambuja Cement and ACC Cement for $10.5 billion in June 2022. Recently, Gautam Adani’s family has invested ₹8,339 crore in Ambuja Cement, increasing his stake in the cement making company to 70.3%. Ambuja Cement gave information about this in the exchange filing. After the acquisition, the Adani family invested ₹5,000 crore in Ambuja Cements through warrants on 18 October 2022. At the same time, on March 28, 2024, Adani Family had invested ₹ 6,661 crore, then their stake in the company increased by 3.6% to 66.7%.
