Ambuja Cements, India's No.2 cement maker, said on Tuesday that it would buy a nearly 47% stake in rival Orient Cement for 37.91 billion rupees ($451 million), but analysts said there were doubts about the deal receiving regulatory approval.

Ambuja Cements Ltd., part of the Adani Group, acquired Orient Cement Ltd. for 81 billion rupees ($963 million), as billionaire Gautam Adani continues to snap up makers of the key raw material needed for India’s infrastructure push.

Adani Group has acquired Orient Cement for Rs 8,100 crore, aiming to surpass 100+ MTPA operational capacity by FY25, further strengthening its position in India's cement industry.