Billionaire Gautam Adani is consolidating his cement businesses into a single structure to streamline operations and better compete with market leader UltraTech Cement in India’s fast-consolidating infrastructure sector. Ambuja Cements’ board has cleared the merger of ACC Ltd. and Orient Cement Ltd. into Adani Cements, according to a stock exchange filing dated December 22, 2025. The move creates a unified “One Cement” platform, addressing overlaps that remained after Adani Group acquired Holcim’s India operations in 2022.
The consolidation also brings Sanghi Industries and Penna Cement—both recent acquisitions—under the same umbrella. Following the merger, Adani Group’s holding in Ambuja Cements will reduce to 60.94 percent from 67.65 percent, while Ambuja and ACC will continue as independent brands.
Management expects the merger to unlock efficiencies in production, logistics, and sales, potentially lifting margins by up to ₹100 per tonne. Karan Adani said the integrated balance sheet would support faster capacity expansion. Under the deal, ACC shareholders will receive 328 Ambuja shares for every 100 held, while Orient Cement investors will get 33 Ambuja shares per 100. The merger is expected to conclude within a year, subject to regulatory and shareholder approvals.