Adani Group-backed Ambuja Cements completed the acquisition of Penna Cement for $1.25bn.

Adani Group-backed Ambuja Cements, a major Indian cement producing company, completed the acquisition of Penna Cement, a building materials company, for $1.25bn. “This landmark acquisition is a significant step forward in Ambuja Cement’s accelerating growth journey,” Ajay Kapur, Ambuja Cement CEO.