Ambuja Cements Ltd., part of the Adani Group, has agreed to acquire Orient Cement Ltd. in a deal valued at 81 billion rupees ($963 million), as billionaire Gautam Adani continues to snap up makers of the key raw material needed for India’s infrastructure push.

Billionaire Gautam Adani-led Adani Group on Tuesday said it will acquire CK Birla group firm Orient Cement at a valuation of Rs 8,100 crore, as part of its expansion drive. With this acquisition Adani

Adani Group-owned Ambuja Cements announced its acquisition of a 46.8% stake in Orient Cement at ₹395.4 per share, valuing the deal at ₹8,100 crore. As part of the deal, Ambuja Cements will acquire a 37.

Ambuja Cements, part of the Adani Group, has agreed to acquire Orient Cement in a deal valued at 81 billion rupees (S$1.26 billion), as billionaire Gautam Adani continues to snap up makers of the key raw material needed for India’s infrastructure push.

Adani Group will acquire Orient Cement at a valuation of ₹8,100 crore. Ambuja Cements has signed a binding agreement for the acquisition of the company. The latest acquisition will add 16.6 MTPA capacity to Adani Cement.

Ambuja Cements, India's No.2 cement maker, said on Tuesday it would buy a nearly 47% stake in rival Orient Cement for 37.91 billion rupees ($451 million), but analysts raised doubts about the deal winning regulatory approval.

With this acquisition, Ambuja Cements will enhance its total operational capacity to 97.4 MTPA, fast-tracking its goal to achieve over 100 MTPA by March 2025.

Ambuja Cements, India's No.2 cement maker, said on Tuesday that it would buy a nearly 47% stake in rival Orient Cement for 37.91 billion rupees ($451 million), but analysts said there were doubts about the deal receiving regulatory approval.

Ambuja Cements said it will acquire a 37.9% stake in Orient Cement from promoters and buy 8.9% from public shareholders. What Happened: Ambuja Cements is set to buy 9.58 crore shares in the company at an average price of ₹395.