Ambuja Cements, a leading company of the Adani Group, has acquired 100 per cent stake in Penna Cement Industries Ltd (PCIL) for Rs 10,422 crore. The acquisition will help Ambuja Cements achieve its target capacity of 140 MTPA by 2028 and increase its market share by 2 per cent pan-India and 8 per cent in south India. The purchase, financed through internal accruals, marks a significant milestone in Ambuja Cement's growth journey.