Winning Bizness Desk

Mumbai. Adani Group, country's top performer corporate group engaged in expanding its empire, can acquire many companies in the cement sector in the coming days. Sources have revealed that 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. According to media reports, Adani Group is intensifying its efforts to capture about a fifth of the Indian cement market by FY28. Adani is currently the second market leader in this sector after UltraTech. However, no such deal has been officially informed or confirmed by Adani Group or any other company.

Group set aside fund, although

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 maker by overtaking 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 their stake in the cement maker 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%.