Ambuja Cements shares surge 4% amid block deal buzz; promoter Adani family likely seller
Adani Group-owned Holderind Investments was looking to sell 2.84% stake in Ambuja Cements through block deal at a floor price of ₹600 per share.
Adani Group-owned Holderind Investments was looking to sell 2.84% stake in Ambuja Cements through block deal at a floor price of ₹600 per share.
Several entities owned by promoters of the Adani group executed purchases to acquire additional stake.
Billionaire Gautam Adani and his family has infused another ₹8,339 crore in Ambuja Cements, raising their stake in the company by 3.6% to 70.3%.
Adani Family infused an additional ₹8,339 crore in Ambuja Cements, taking the total infusion to ₹20,000 crore under the warrants program.
Adani family raises stake in Ambuja Cements by 3.6% to 66.7%
Earlier this month, Adani Green Energy secured a $1.36 billion loan from an international bank consortium to boost its construction financing framework.
Ambuja Cements has allotted 47.74 crore warrants of the face value of ₹2 each at a price band of ₹418.87 to the Adani family firm Harmonia Trade and Investment
Company EGM passes resolution to raise ₹20,000 cr by issuing securities on a preferential basis to Adani group’s Harmonia Trade. Gautam Adani, his son Karan Adani also appointed to the Ambuja board.
Adani Group has made the open offer at a price of ₹385 per share for Ambuja Cements and ₹2,300 per share for ACC; the offer closes on September 9
The Adani group is deeply overleveraged, warns CreditSights.