India’s Ambuja Cement Limited, a subsidiary of the Adani Cement, has completed its acquisition of Penna Cement Industries Limited (PCIL) end of last week, the company said in an exchange filing. We reported about the transaction 14. June 2024). With this acquisition, Penna Cement has officially become a subsidiary of Ambuja Cement, bolstering its capacity and market presence, particularly in southern India and marking a significant milestone in Adani Group’s strategic expansion in the cement sector.