Industrialist CK Birla has approached Gautam Adani to sell his promoter stake in Orient Cement after rejecting offers from other buyers. Birla s stake in Orient Cement is 37.9%, with a market value of ₹3,878 crore. The talks with Adani have been ongoing for the past few months, but there is no guarantee of a transaction. Birla s valuation demand, which is double the current market price, could be a deal breaker. Adani Cement recently acquired Sanghi Industries and currently has a total cement capacity of 110 MTPA.
The transition will trigger an open offer for an additional 26% stake in accordance with takeover laws, which mandate an incoming promoter or controlling entity to buy the additional shares from existing minority investors.