Ambuja Cements completes acquisition of 46.66% stake in Orient Cement

Ambuja Cements (BSE: AMBUJACEM) announced the completion of acquiring 9,58,73,163 equity shares, representing 46.66% of the existing share capital of Orient Cement Limited (OCL), pursuant to previously announced Share Purchase Agreements. This follows OCL's allotment of 3,49,976 fully paid-up equity shares of Re. 1 each under its employee stock option scheme, increasing its paid-up share capital. Ambuja Cements intends to comply with obligations under SEBI regulations concerning the substantial acquisition of shares and takeovers, particularly related to an upcoming open offer for additional shares in OCL.