News > Ambuja Cements to acquire Penna Cement for Rs 10,422 crore

Ambuja Cements to acquire Penna Cement for Rs 10,422 crore

This strategic move aligns with Adani’s ambitious target to reach a cement production capacity of 140 million tonnes per annum (MTPA) by 2028. The acquisition, detailed in a stock exchange filing, is expected to be completed within three to four months. Ambuja Cements will acquire the stake from the PCIL promoter group, led by P. Pratap Reddy and his family. The purchase will be fully funded through internal accruals.