The Competition Commission of India on Tuesday cleared Ambuja Cements’ proposal to acquire a majority stake in CK Birla group firm Orient Cement Ltd for ₹8,100 crore.

Ambuja Cements, a part of the diversified Adani Group, operates 22 integrated cement plants across India, as well as 10 bulk cement terminals and 21 grinding units.

“The proposed transaction comprises the acquisition of 46.80 per cent of the issued share capital in the target (Orient Cement) by the acquirer (Ambuja Cements),” CCI said.

This includes 37.90 per cent held by the current promoter and promoter group and 8.90 per cent from certain public shareholders, it said.

Pursuant to the acquisition of shares, it triggers an obligation on the acquirer to make an open offer under Sebi’s SAST (Substantial Acquisition of Shares and Takeovers) regulations for acquisition of up to 26 per cent of the expanded share capital of the Orient Cement, CCI added.

Assuming acceptance of the open offer, Ambuja Cements’s stake in the target company will increase to 72.8 per cent.

“CCI approves the proposed acquisition of up to 72.8 per cent shareholding of Orient Cement Ltd by Ambuja Cements Ltd,” the Competition Commission of India said.