Ambuja Cements allows merge of subsidiaries ACC, Orient Cement

Ambuja Cements Ltd, part of billionaire Gautam Adani-led Adani Group, has approved the merger of its subsidiaries ACC Ltd and Orient Cement with the company, creating a single cement platform and a pan-India cement major with an installed capacity of 107 million tonnes per annum (MTPA).

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The board of Ambuja Cements Ltd (ACL) on Monday cleared the scheme of amalgamation under which ACC and Orient Cement will be merged into Ambuja.

Post-merger, ACC, Orient Cement, Penna Cement and Sanghi Industries will become integral parts of Ambuja Cements.

"The merger will unlock greater operational efficiencies, optimise manufacturing and logistics, and enable efficient capital deployment. These improvements will boost profitability, support capacity expansion, and enhance long-term shareholder returns," the company said in a statement.

Under the share swap arrangement, for every 100 equity shares of ACC with a face value of Rs 10 each, Ambuja will issue 328 equity shares of Rs 2 each to eligible ACC shareholders.