Gautam Adani, chairman of Adani Group, is in early talks to acquire the Indian operations of Germany's Heidelberg Materials for Rs 10,000 crore ($1.2 billion).
The deal, led by Adani's Ambuja Cements, is expected to boost market consolidation in India's cement industry. This move is seen as a challenge to UltraTech Cement, owned by Kumar Mangalam Birla, which has been aggressively expanding through acquisitions