Adani to buy Jaypee cement units; JSW buys India Cements' MP unit

Adani aims to become India's top cement company by 2030; rival Ultratech stepping up capacity

The consolidation in the cement sector has picked up pace with Adani and JSW groups closing in on smaller rivals. While Adani Group is set to announce its second acquisition in the cement sector of Jaypee Group’s cement assets at an enterprise valuation of Rs 5,000 crore, India Cements said it has sold its Madhya Pradesh (MP) limestone mine and land for Rs 477 crore to Sajjan Jindal-owned JSW Cement.

A larger part of Jaypee’s cement business was earlier acquired by UltraTech in a deal worth over Rs 16,000 crore (22.4 million tonnes per annum, or mtpa, capacity) in 2016, and