CEMENT SECTOR IN FOCUS

7 MAJOR DEALS IN INDIA'S CEMENT SECTOR SINCE ADANI GROUP'S ENTRY IN 2022  

Published By Veerang Vats | 22 Oct, 2024
India's cement sector has seen rapid consolidation and growth since 2022, with Adani leading the competition through strategic acquisitions and expansions.
Credit : PEXELS
Here's a list of 7 major deals in India's cement sector since Adani Group's entry in 2022
Credit : PEXELS

Adani Group - Holcim AG

Adani Group made its entry into the Indian cement market by acquiring Ambuja Cements and ACC from Swiss-based Holcim for $10.5 billion in May 2022. This remains the largest transaction in the Indian cement industry, marking a pivotal moment for Adani.
Credit : Pinterest

Dalmia Bharat - Jaiprakash Associates 

Dalmia Bharat strengthened its position in India’s central region by purchasing the cement and other assets of Jaiprakash Associates in a $687 million deal in December 2022.
Credit : PEXELS

Sagar Cements - Andhra Cements 

Sagar Cements expanded its footprint in the cement sector by acquiring Andhra Cements, part of the Jaypee Group in February 2023 for $9.20 billion. This transaction helped Sagar Cements to bolster its market presence.
Credit : Pinterest

Ambuja Cements - Sanghi Industries

Ambuja Cements, under the Adani Group, acquired an 83% stake in debt-ridden Sanghi Industries for $295 million in August 2023. This was Adani's first major acquisition after the U.S. short seller Hindenburg report surfaced in January 2023.
Credit : Pinterest

UltraTech Cement - Kesoram Industries

UltraTech Cement expanded its presence in southern India by purchasing the cement assets of Kesoram Industries for $645 million in November 2023, further strengthening its market position in the region.
Credit : PEXELS

Ambuja Cements - Penna Cement Industries

Ambuja Cements secured a $1.25 billion deal to acquire Penna Cement Industries. This acquisition, executed in June 2024, likely pushed Ambuja into the top three cement producers in southern India, as estimated by industry analysts.
Credit : Pinterest

UltraTech Cement - India Cements

UltraTech completed a $472 million deal to take control of India Cements in July 2024, following its initial purchase of a 23% stake for $228 million. This move further consolidated UltraTech's share in the cement industry. (Inputs from Reuters)
Credit : Pinterest
CLICK FOR MORE VISUAL STORIES