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.
Ambuja Cements shares have surged 87% in the past six months, from its 52-week low of ₹274 on March 8, 2022, to all-time high of ₹511.8 intraday today.
Ambuja Cements share price gained 4.64% to hit a new all-time high of ₹457.5 on the BSE, amid open offer by Adani Group, which will close on September 9.
Adani-owned Endeavour Trade and Investment Ltd has made the open offer at a price of ₹385 per share for Ambuja Cements and ₹2,300 per share for ACC Ltd.
The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is around $10.5 billion, making this the largest ever acquisition by Adani.