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Adani Group pays $10.5 billion (approximately 81,361 crore) for Holcim's interest in Ambuja cements and its subsidiary ACC, making it the most expensive deal ever. This is the first time the ports-to-energy conglomerate has entered the cement industry, making it the country's second-largest cement maker.

On Monday, Ambuja Cements and its unit ACC climbed 2.9 percent and 6.4 percent, respectively, after Adani Group announced it would buy Holcim AG's controlling ownership in the companies. Adani businesses jumped 2.75 percent, while rivals UltraTech Cement and Shree Cement sank 2.5 percent and 1.8 percent, respectively, and were among the Nifty 50's top losers.

India's biggest cement producer is currently the Aditya Birla company, which owns the super tech cement brand. After Holcim announced its exit from India, the Aditya Birla Group was also scrambling to buy out the company's stake. However, Asia's richest man, Gautam Adani's company, sealed the agreement on Sunday, which is considered as a major victory for India.

Ambuja Cement holds 63.19 percent of Holcim, while ACC Ltd owns 4.48 percent. In turn, Ambuja Cement owns 50.05 percent of ACC.

Holcim had planned to leave India after deciding to focus on the group's'strategy 2025,' which aims for sustainable construction materials solutions. However, many feel that the Competition Commission of India (CCI), which launched its second probe into the company in December 2020, was one of the reasons for the corporation's haste to leave India.