ACC Ltd has acquired a 55% stake in Asian Concretes and Cement, adding 2.8 million to its existing production capacity. The deal, funded by internal accruals, will increase ACC and Ambuja Cements capacity to produce 76.10 million tonne of cement annually. The company plans to increase this to 140 million tonne by 2028.
As of 30-Sep-2023, promoters held 50.05 per cent stake in the company, while FIIs held 7.1 per cent and domestic institutional investors had 12.52 per cent.