India’s National Company Law Tribunal (NCLT) Ahmedabad bench has approved the merger of Penna Cement Industries Ltd into Ambuja Cements Ltd, part of the Adani Group.
Under the approved scheme, Penna Cement will be dissolved without winding up and fully integrated into Ambuja Cements’ operations.
Both companies operate in the cement sector, and the merger is expected to enhance operational efficiency, streamline business management and simplify the group’s corporate structure.
Penna Cement, currently a subsidiary of Ambuja Cements, manufactures and sells cement and related products, while Ambuja produces a range of cement types including grey and white cement.
Adani Group acquired Penna for INR104bn (US$1.25 billion) from promoters P. Pratap Reddy and family in 2024.
