InvestorQ : Can you tell me about the Adani and JSW deal in cement takeovers on Tuesday?
Rashi Mehra made post

Can you tell me about the Adani and JSW deal in cement takeovers on Tuesday?

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Archita Jajjoo answered.
1 month ago
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It is one more case of consolidation in cement industry. There were 2 different deals on Monday. Adani group will add to its existing cement capacity by acquiring the cement assets of the Jaypee group for Rs5,000 crore. Jaypee had sold most of its cement assets in 2016 to Ultratech. Now, even the capacity of 10.5 MTPA that it had retained has now been sold to Adani. This will add to Adani’s existing 70 MTPA capacity acquired through Ambuja Cements and ACC. In another deal, India Cements sold its Madhya Pradesh limestone mine and land bank for a consideration of Rs477 crore to JSW Cement.

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