Billionaire Gautam Adani's Ambuja Cements agreed to buy a 47% stake in Orient Cement in a deal valued at $963 million, stepping up acquisitions amid intensifying rivalry with tycoon Kumar Mangalam Birla.

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.

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.

OCL has 5.6 MTPA clinker capacity and 8.5 MTPA cement capacity along with statutory clearance to increase the clinker capacity by another 6.0 MTPA and cement capacity by another 8.1 MTPA

Ambuja’s acquisition of a significant stake in Orient Cement is a strategic bet on India’s growth story, but with earnings under pressure, the challenge now lies in making the premium payout deliver returns.

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.

Adani Group has acquired Orient Cement for Rs 8,100 crore, aiming to surpass 100+ MTPA operational capacity by FY25, further strengthening its position in India's cement industry.

The deal will also provide Ambuja Cements potential additional capacity of 6 MTPA in North India, leveraging Orient Cement's high quality limestone reserves in Rajasthan.

Ambuja Cement, India’s No.2 cement maker, will buy 46.8 per cent stake of its founders, including chairman C.K. Birla and certain public shareholders for Rs 3,791 crore

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 Ltd., part of the Adani Group, shared news on Tuesday, October 22. It will take a controlling stake in Orient Cement Ltd. The deal is valued at ₹8,100 crore. This acquisition will boost Ambuja’s production capacity by 16.6 million tonnes per annum (MTPA). Of this, 8.5 MTPA is current capacity, while 8.1 MTPA is set for future growth.