Nirma Group company outbids Ambuja in insolvency sale of Vadraj Cement

Nirma Group-backed Nuvoco Vistas has offered ₹1,800 crore to acquire Vadraj Cement, outbidding Adani Group during a court-monitored corporate insolvency auction. The acquisition plan includes repaying financial creditors and operational costs. Approval from NCLT is awaited. Vadraj Cement's newly acquired plant will be operational by December 2026.