The NCLT has approved the merger of Adani Cementation with Ambuja Cements, consolidating Adani Group’s cement business. Effective from April 1, 2024, the merger involves share swapping, with Adani Enterprises receiving 8.7 million Ambuja Cements shares. This move aims to enhance value, increase manufacturing capacity, and improve resource utilization, supporting Ambuja Cements’ expansion plans to reach 140 MTPA by FY28.
Key Highlights
Approval Date: July 18, 2025
Effective Date of Merger: April 1, 2024
Structure: Share swap arrangement; Adani Enterprises will receive 8.7 million equity shares of Ambuja Cements
Tribunal Bench: Ahmedabad NCLT
Operational Impact
Assets Transferred: All rights, licenses, liabilities, and ongoing projects of Adani Cementation
Key Projects:
- Limestone reserves of 275 million tonnes at Lakhpat, Gujarat
- Proposed cement facility at Raigad, Maharashtra
Growth Ambitions
- Ambuja Cements aims to expand capacity from 100 MTPA to: 118 MTPA by FY26 and 140 MTPA by FY28
- Growth driven by brownfield expansions and recent acquisitions (Penna Cement, Sanghi Industries, Orient Cement)