Adani Acquires Penna Cement for ₹10K Cr

Adani Group’s Ambuja Cements has announced the acquisition of Andhra Pradesh based Penna Cement Industries Ltd for Rs 10,422 crore. The deal includes the purchase of 100% shares from the current promoters, P Pratap Reddy and family. The acquisition will expand Ambuja’s market presence in South India and reinforce its position as a pan-India leader in the cement industry.

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