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ACC-Ambuja: Know about the cement industry?s most anticipated bidding

Cement leaders have been aggressively running to grab the Holcim assets

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As tension mounts and speculations continue being made, the Indian cement industry has been closely watching the progress of Holcim Group?s exit from the country. The Swiss giant set off a whirlwind by putting its two listed cement arms ? ACC and Ambuja ? out in the market to evaluate options for their stake sale.

Holcim holds a 63.19 per cent share in Ambuja and 4.48 per cent in ACC, which is an Ambuja subsidiary. Ambuja additionally holds its own stake of 50.05 per cent in ACC. Holcim Group?s global cement capacity as of the current financial year is 293 mtpa with around 24 per cent of its total capacities housed in India. Ambuja?s current reported grinding capacity is 31.4 mtpa with plans to expand capacity to 39.9 mtpa by 2024, while ACC?s has been calculated at 34.9 mtpa to be increased to 39.7 mtpa by the first half of the next year.

These numbers mean that any player who manages to take over both ACC and Ambuja will be adding a combined pan-India capacity of 66 mtpa, promptly shooting any global player to a second position.

The contenders

The world?s largest cement maker reportedly has been believed to have held early-stage negotiations with JSW Cement and Adani Group to gauge their interests in this acquisition, with news reports indicating UltraTech as another formidable contender in this race. Apart from these, a few regional players such as Shree Cement have been approached as well.


JSW Cement
has a grinding capacity of approximately 15 mtpa. It primarily depends on imported clinkers since its present clinker capacity is 3.2 mtpa only. Shiva Cement, a JSW subsidiary, will increase its clinker capacity by 1.36 mtpa and cement capacity by 1 mtpa.


UltraTech
has a consolidated capacity of 119.95 mtpa while Adani does not have a presence in the cement market as of date, but has been planning its foray into the cement industry under its subsidiary Adani Cement Industries formed in July 2021.


Shree Cement
?s grinding capacity is 46.4 mtpa and has been consistent in its capacity additions, however, it has done only one acquisition in the domestic market and may reportedly face regulatory hurdles if it shows its interest in this deal.

The investment

Ambuja?s market capitalisation is Rs 764.77 billion and that of ACC?s is Rs 433.89 billion, together making the companies? total market cap at Rs 1.20 trillion. If signed, this deal stands to reportedly be one of the largest in the country.

The bids for the two assets are expected to be upwards of $10 billion. As Motilal Oswal?s recent cement sector update report mentions, ?Holcim will prefer a cash deal and not a share swap if it has plans to exit the Indian operations. This acquisition will require a huge investment by the acquirer and will make the complete exit a tall task.? The report adds that the acquirer will have to give an open offer in both the companies. The huge investments may lead to leveraging of the acquirer?s balance sheet, which generally is not favoured for a cyclical business.

Recent developments point out that JSW Cement has a couple of US private equity funds keen on this opportunity backing its funding, while Adani has reportedly tied up with multiple foreign banks such as Deutsche Bank and Barclays and domestic banks such as ICICI Bank and Axis Bank for funding the deal.

Benefits to the sector

This deal, if it goes through, should be positive for the sector in the near-to-medium term as the acquirer might not chase growth CAPEX immediately, the Motilal Oswal report observes. ?Acquisition by the Adani group, if it happens, may also alleviate concerns of an entry of a new aggressive player in the sector as the group?s immediate focus will be on streamlining the operations in the near term. In the long run, however, sector dynamics would depend on the growth plans and aggressiveness of the acquirer.?

ACC has undertaken expansion plans in the Central markets, whereas Ambuja has recently announced its expansion plans in the East. Holcim will obtain 1 per cent of the turnover of ACC and Ambuja as technology and know-how fees.

Everyone involved in the divestment, however, continues to be tightlipped. With a portfolio as impressive as Holcim?s, the industry awaits the results of perhaps the most anticipated and aggressive bidding the Indian cement industry has seen in recent times.

Concrete

NDMC Rolls Out Intensive Sanitation Drive Across Lutyens Delhi

Municipal body intensifies cleaning and monitoring across the capital

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The New Delhi Municipal Council has launched an intensive sanitation drive across Lutyens’ Delhi, aiming to raise cleanliness standards in the capital’s central precincts. The programme will combine enhanced manual sweeping with mechanised cleaning and systematic waste removal to cover parks, heritage precincts and prominent thoroughfares. Authorities described the initiative as a sustained effort to improve public hygiene and reduce environmental hazards while maintaining the area’s civic image.

Operational teams have been instructed to prioritise drain clearing and litter hotspots, with special attention to markets and transit nodes that attract heavy footfall. Coordination with city utilities and waste processing units will be stepped up to ensure timely collection and disposal, and supervisory rounds will monitor adherence to cleaning schedules. Officials also intend to use data-driven planning to deploy resources efficiently and to identify recurring problem areas.

The council plans to engage resident welfare associations and business stakeholders to foster community participation in maintaining cleanliness and to support behavioural change campaigns. Public communication will be amplified through notices and outreach to encourage responsible waste handling and to inform residents about collection timings and segregation norms. Enforcement measures for littering and unauthorised dumping will be reinforced as part of a broader strategy to deter violations and sustain cleanliness gains.

The move reflects a focus on urban sanitation that officials link to public health priorities and to the city administration’s commitment to maintaining civic amenities. Monitoring mechanisms will include regular reporting and inspections to review outcomes and to recalibrate operations where necessary, according to municipal sources. The council emphasised that continued community cooperation will be essential for the drive to deliver lasting improvements in the appearance and hygiene of the capital’s core areas.

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Concrete

UltraTech Appoints Jayant Dua As MD-Designate For 2027

Executive named to succeed current managing director in 2027

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UltraTech Cement has appointed Jayant Dua as managing director (MD) designate who will take charge in 2027, the company announced. The appointment signals a planned leadership transition at one of the country’s largest cement manufacturers. The board has set a clear timeline for the handover and has framed the move as part of a structured succession plan.

Jayant Dua will be referred to as MD after assuming the role and will be responsible for overseeing operations, strategy and growth initiatives across the company’s network. The company said the designation follows established governance norms and aims to ensure continuity in executive leadership. The appointment is expected to allow a phased transfer of responsibilities ahead of the formal changeover.

The decision is intended to provide strategic stability as UltraTech Cement navigates domestic infrastructure demand and evolving market dynamics. Management will continue to focus on operational efficiency, capacity utilisation and cost management while aligning investments with long term objectives. The board will monitor the transition and provide further information on leadership responsibilities closer to the effective date.

Investors and market observers will have time to assess the implications of the announcement before the change is effected, and analysts will review the company’s outlook in the context of the succession. The company indicated that it will communicate any additional executive appointments or organisational changes as they are finalised. Shareholders were advised to refer to formal filings and company releases for definitive details on governance or remuneration.

The leadership change will be managed with attention to stakeholder interests and operational continuity, and the company reiterated its commitment to delivery on ongoing projects and customer obligations. Senior management will engage with employees and partners to ensure a smooth handover while maintaining focus on safety and compliance. Further updates will be provided through official investor communications in due course.

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Merlin Prime Spaces Acquires 13,185 Sq M Land Parcel In Pune

Rs 273 crore purchase broadens the developer’s Pune presence

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Merlin Prime Spaces (MPS) has acquired a 13,185 sq m land parcel in Pune for Rs 273 crore, marking a notable expansion of its footprint in the city.

The transaction value converts to Rs 2,730 mn or Rs 2.73 bn.

The parcel is located in a strategic area of Pune and the firm described the acquisition as aligned with its growth objectives.

The deal follows recent activity in the region and will be watched by investors and developers.

MPS said the acquisition will support its planned development pipeline and enable delivery of commercial and residential space to meet local demand.

The company expects the site to provide flexibility in product design and phased development to respond to market conditions.

The move reflects an emphasis on land ownership in key suburban markets.

The emphasis on land acquisition reflects a strategy to secure inventory ahead of demand cycles.

The purchase follows a period of sustained investor interest in Pune real estate, driven by expanding office ecosystems and residential demand from professionals.

MPS will integrate the new holding into its existing portfolio and plans to engage with local authorities and stakeholders to progress approvals and infrastructure readiness.

No financial partners were disclosed in the announcement.

The firm indicated that timelines will depend on approvals and prevailing market conditions.

Analysts note that strategic land acquisitions at scale can help developers manage costs and timelines while preserving optionality for future projects.

MPS will now hold an enlarged land bank in the region as it pursues growth, and the acquisition underlines continued corporate appetite for measured expansion in second tier cities.

The company intends to move forward with detailed planning in the coming months.

Stakeholders will assess how the site is positioned relative to existing infrastructure and connectivity.

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