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Ambuja proposal to buy 24% in Holcim

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The Cabinet Committee on Economic Affairs (CCEA) has paved the way for Ambuja Cements to acquire a 24 per cent stake in its holding company, Holcim (India), a move which would lead to an outflow of Rs 3,500 crore from India and be a precursor to a reverse merger through a share swap. The reverse merger was also given a go-ahead by the CCEA.

The proposal allows Ambuja Cements to buy stake from Holderind Investment Limited.

The proposal was something applied for in 2013, but it has been cleared in the immediate aftermath of the conclusion of sale of Lafarge India assets to Nirma. Industry watchers are already wondering if this is just a mere coincidence or if there is more to it than meets the eye.

These transactions would enable LafargeHolcim Group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvesting significant synergies from India operations.

"This will further strengthen all India footprints, debt-free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities," a government statement said.

According to a complex arrangement announced in August 2013 by Holcim, in a two-step process, Ambuja Cements was to acquire 24 per cent in Holcim India – a wholly owned financial holding company of Holcim – for Rs 3,500 crore – followed by a stock merger between the two.

Currently, Holcim India directly holds 9.76 per cent stake in Ambuja and 50.01 per cent in ACC.

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Economy & Market

Celebrating Haryana’s Wrestling Heroes: Nuvoco Concludes 45-Day ‘Sabse Khaas Pehelwaan’ Campaign

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Nuvoco Vistas Corp Ltd., India’s fifth-largest cement group by capacity, successfully concluded the grand finale of ‘Sabse Khaas Pehelwaan’, presented by Nuvoco Duraguard Cement, on May 2, 2025, at New Delhi’s iconic Talkatora Indoor Stadium. The wrestling championship, rooted in Haryana’s rich sporting culture, was a celebration of strength, resilience, and community pride—values that mirror the essence of Nuvoco’s Duraguard Cement brand.

The 45-day campaign attracted over 1,500 participants from all 22 districts of Haryana, culminating in a high-energy finale featuring the top contenders from district-level qualifiers. The competition included freestyle bouts across multiple weight classes for both men and women. The winners were awarded cash prizes of ₹1,00,000 for first place, ₹50,000 for second, and ₹25,000 each for the joint third-place finishers. Notably, champions such as Aakash Kumar (61 kg), Jaideep (74 kg), Anirudh (125 kg), Parveen (53 kg), Neha (62 kg), and Priya (76 kg) will also be featured as micro-market brand ambassadors, deepening Nuvoco’s local engagement.

Chirag Shah, Head of Marketing, Innovation and Sales Excellence at Nuvoco, said, “Sabse Khaas Pehelwaan brought our brand closer to the heart of Haryana by uniting sport, culture, and community. This platform not only showcased remarkable athleticism but reinforced Duraguard Cement’s brand values of strength and durability.”

Manish Kumar, Head of North Sales, added, “Haryana is a vital market for Nuvoco. Through this campaign, we’ve built authentic relationships and increased brand trust at the grassroots level. It has opened new avenues for engagement and sustainable growth.”

The event’s live broadcast, combined with vibrant community events and digital outreach, created a powerful blend of cultural celebration and brand building across one of India’s most dynamic regions.

 

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Concrete

UltraTech Cement boosts capacity with new clinker line

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UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

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Concrete

Ambuja Cements gets a new CEO

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Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

 

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