Ambuja Cements, owned by Adani Group, has completed the acquisition of 37.8 percent of the promoters’ share of CK Birla Group Firm Orient Cement Limited (OCL) and has become a promoter.
With this, the total stake of Ambuja Cements in OCL has increased by 46.66 percent as it has also acquired 1.82 crore shares representing 8.87 percent from public shareholders of OCL.
A regulatory filing from OCL said, “Ambuja has completed the acquisition of 7,76,49,413 equity shares of the company (representing 37.79 percent of equity share capital).”
For the acquisition of promoter groups and public shareholders, Ambuja has achieved OCL’s only control and has become the company’s promoter.
Last October, Ambuja Cements announced the acquisition of OCL Its expansion is 8,100 crores as part of the drive.
