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- Adani Group After Concrete Growth In Cements Buiness, India Cements And Nuvoco Vistas May Be Next Buys Of Gautam Adani
10 hours ago
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Gautam Adani wants to be number 1 in cement business. This intention of Adani has become clear after the acquisition of Ambuja and ACC. Now news is coming that after Ambuja and ACC, Adani may also acquire India Cement and Nuvoco Vistas.
Nuvoco and India Cements up more than 10%
On Monday (September 19), both Nuvoco Vistas and India Cement gained over 10% after the news surfaced. Nuvoco Vistas closed at Rs 456 with a gain of 13.42% or Rs 53.95. On the other hand, India Cement closed at Rs 292.70, up by 10.00% i.e. Rs 26.60.
Adani to acquire more and more cement assets
Industry watchers believe that Adani intends to acquire more cement assets. In particular, they want to acquire smaller companies, which have low structure cost and market share.
Group to invest 20 thousand crore rupees in cement business
Along with the acquisition, the board of Ambuja Cements also approved convertible warrants for preferential allotment to the promoter entity of the Adani Group. Through this, the group will invest an additional 20 thousand crore rupees. With this investment, the group will increase its cement production capacity to meet its target of becoming India’s largest cement company by 2030. In addition, the group will also acquire several cement assets.
Ambuja-ACC has a production capacity of 70 mtpa/yr
UltraTech is at the top position in terms of cement production with a capacity of 120 million tonnes per annum (mtpa). Whereas, the total cement production capacity of both Ambuja-ACC companies is 70 mtpa. The Adani Group will now increase the cement production capacity of these two companies by investing more and more.
Nuvoco Vistas-India Cement Capacity 40 mtpa/year
Apart from Nuvoco Vistas and India Cement, the Adani Group may also acquire Sanghi Cement. Sanghi Cement has a cement production capacity of 6 mtpa. Whereas Nuvoco Vistas and India Cement have production capacities of 25 mtpa and 15 mtpa (total 40 mtpa/year).
Ambuja-ACC acquired for $6.5 billion
Gautam Adani completed the acquisition of Ambuja and ACC 2 days ago (September 16). Adani Group did this takeover of Ambuja and ACC Cement for $ 6.5 billion i.e. 51.79 thousand crores. With this takeover, Adani Group has become the second largest cement manufacturer in the country. Aditya Birla Group’s UltraTech Cement is at number one in terms of cement production. Read the full news related to the acquisition of Ambuja and ACC here …