Ambuja Cements may repay Penna's debt

Private credit funds, including Edelweiss Alternative Asset, expect Ambuja Cements to repay Penna Cement's high-cost debt ahead of schedule. Adani Group-controlled Ambuja Cements acquired Penna Cement for ₹10,442 crore, aiming to reduce borrowing costs and improve credit ratings. The acquisition will help Ambuja Cements to refinance or repay Penna Cement's existing term loans and high-cost debt, including ₹400 crore to Edelweiss Alternative Asset.