ACC Limited, subsidiary of Ambuja Cements Limited and a leading entity in the cement and building materials sector currently holds 45 per cent stake in Asian Concretes and Cements Private Limited (ACCPL), the company on Monday announced through an exchange filing.
The company through the regulatory filing announced the acquisition of the remaining 55 per cent stake in ACCPL from its existing promoter at an Enterprise Value of Rs 775 Crore resulting in entire ownership of ACCPL. The EV includes Cash & Cash Equivalent of Rs. 35 Crore.
ACCPL has 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements Pvt Limited (AFCPL) has 1.5 MTPA cement capacity in Rajpura (Punjab).
Entire acquisition is funded through internal accruals and will help ACC & its parent company Ambuja to further bolster market leadership in the lucrative North India market.
Ajay Kapur, WTD and CEO, ACC Limited, expressed, "With this acquisition, we are furthering our growth trajectory, enriching our portfolio, and continuing to accelerate our journey towards value creation for all our stakeholders. This aligns seamlessly with our vision for expansion and serves as a testament to ‘ACC’s Bharosa Atoot’, resonating deeply with our values."
ACC Limited shares
The shares of ACC Limited on Monday morning at 10:30 am IST were trading at Rs 2,344.50, down by 1.39 per cent.
