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Ambuja Cements, a part of Adani Group, to acquire cement grinding unit in Tuticorin from My Home Group



Adani Group’s Ambuja Cements to acquire My Home Group’s cement grinding unit in Tuticorin

Ambuja Cements, a part of the Adani Group, has recently announced the acquisition of My Home Group’s 1.5 mtpa cement grinding unit in Tuticorin, Tamil Nadu. The deal, valued at ₹413.75 crore, will be funded through internal accruals. This strategic move aims to expand Ambuja’s presence in the Southern markets, particularly in Tamil Nadu and Kerala.

The cement unit, located near the Tuticorin Port and spread across 61 acres, is owned by Telangana-based My Home Group. Ambuja Cements highlighted the competitive advantage of the limited availability of limestone in Tamil Nadu, which aligns with their goal of cost-efficient operations through coastal movement of clinker from the Sanghipuram Plant.

Ajay Kapur, CEO of the Cement Business at Adani Group, expressed excitement about the acquisition, emphasizing the company’s commitment to delivering high-quality products and services to customers. With the addition of My Home Group’s cement unit, Ambuja Cements will inherit the existing dealer network and retain current employees to ensure a smooth transition and rapid utilisation ramp-up.

This move solidifies Adani Group’s total cement capacity, which now stands at 78.9 mtpa. Despite the announcement, Ambuja Cements’ share price experienced a slight decline of 0.14% on the National Stock Exchange (NSE) on Monday. The acquisition is anticipated to further strengthen Ambuja Cement’s foothold in the region and enhance its market position in the coming years.

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