Ambuja Cements Greenlights Merger with Orient Cement: A Mega Move in India’s Cement Sector

Ambuja Cements Limited has approved the amalgamation of its subsidiary Orient Cement Limited, aiming to unify operations, boost efficiency, and unlock synergies. The deal, subject to regulatory approvals, will see Orient Cement’s shareholders receive 33 Ambuja shares for every 100 Orient shares held. Both companies are part of the Adani Group, and the merger is expected to strengthen Ambuja’s market position and operational agility.

• The amalgamation will see Orient Cement’s equity shareholders receive 33 Ambuja shares for every 100 Orient shares held, with no cash consideration involved.  
• The transaction is a related party deal, but the share exchange ratio is based on a joint valuation report by GT Valuation Advisors and BDO Valuation Advisory LLP, with a fairness opinion provided by SBI Capital Markets.  
• Both Orient and Ambuja Cement are part of the Adani Group, and the merger will enhance the group’s overall business ecosystem.  
• The merger is expected to unlock economies of scale, boost profitability, and strengthen competitiveness in the Indian cement sector.  
• Regulatory approvals, including from the National Company Law Tribunal, are required before the scheme becomes effective.