New Delhi, March 4 -- India's antitrust regulator, the Competition Commission of India (CCI), on Tuesday, March 4, announced that it had approved the proposed acquisition plan of up to 72.8 per cent stake in the cement maker, according to a social media post on X.

"CCI approves the proposed acquisition of up to 72.8% shareholding of Orient Cement Limited by Ambuja Cements Limited," said CCI in its post on the social media platform X.

According to the news agency Reuters report, the Adani Group-owned Ambuja Cement unveiled its plans to buy a stake worth $451 million in Orient Cement in an effort to compete with the industry behemoth and the Birla-owned UltraTech Cement.

"The proposed transaction comprises the acquisition of 46.80 per ce...