The Adani family completed the subscription to the warrants program in Ambuja Cements by injecting an additional ₹8,339 crore, resulting in a 3.6 percent increase in their stake in the company, on Wednesday.
Billionaire Gautam Adani’s family raised its stake in Ambuja Cements to 70.3 percent from 66.7% with a 83.39 billion rupees investment.
The Adani family had previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, it has completed the planned Rs 20,000 crore infusion, the company said in a statement. Aditya Birla Group aims for top spot in financial services through new digital platform
Impact on Ambuja Cement’s share
Currently, the Ambuja Cements stock is trading at Rs 555, a 47% premium over the issue price of Rs 418.8. The stock rallied 88% in the past three months compared to a 17% jump in the benchmark Sensex.
About Ambuja Cement
Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited (GACL), is a major Indian cement producing company.The Group markets cement and clinker for both domestic and export markets.From 2010 to 2022, Holcim held a 61.62% controlling stake in Ambuja Cements. Jio Financial Services rises with 5%, a good news for all the investors
On 14 April 2022, Holcim announced that it would exit from the Indian market after 17 years of operations as part of a strategy to focus on core markets, and listed its stakes in Ambuja Cements and ACC for sale. On May 15, 2022, Adani Group acquired Holcim’s stake in Ambuja Cements and ACC for US$10.5 billion.
After the infusion, Adani has owned around 70% of the company’s share and the market cap of the company has increased to 1,22,514 crores.
