Ambuja Cement Acquires Penna Cement At An EV Of ₹10,422 Cr | Adani Group On A Buying Spree

Ambuja Cement acquires Penna Cement at an EV of 10,422 cr implying EV/ton of $89. This acquisition makes Ambuja third largest cement manufacturer in South region. Penna Cement currently has 14 MTPA capacity-- out of which 10 MTPA is operational and 4 MTPA will be completed in 6-12 months. Apart from this, surplus clinker at Jodhpur will support additional 3MTPA grinding capacity. This acquisition will help improve presence in Southern India (AP, Telangana, Rajasthan). 90% of Penna's capacity comes with railway sidings, some with captive power plants and will also strengthens Adani Cement’s Sea transportation logistics with five bulk cement terminals. Listen in to know more!

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