Adani Group Invests Rs 6661 crores in Ambuja Cements Company stake rises to 66.7%

Investment of Adani Group in Ambuja Cements :

Adani Group’s significant investment of Rs 6661 crores in Ambuja Cements underscores its strategic interest and confidence in the company’s prospects. This move comes after the promoter invested 5000 crores earlier by exercising the issuance of the warrants approved by the board in October 2022. This investment has elevated Adani Group’s stake in Ambuja Cements from 3.6% to 66.7% consolidating its position as a major stakeholder. This move signals Adani’s intent to expand its footprint in the Cement Sector. This Investment aligns with Adani’s broader strategy of diversification and expansion into key sectors of India’s Economy.

Implications and Benefits for the Company :

This investment will fortify the company’s financial position, allow it to pursue its growth plans, and capitalize on emerging opportunities. Whole-time Director and CEO of Ambuja Cements Mr. Ajay Kapur said “This infusion of funds provides Ambuja Capital flexibility for Fast-tracked Growth. Those funds would be used to achieve a capacity of 140 million tonnes per annum by 2008 by the cement vertical. Those funds would be utilized for Driving Innovation and Product Enhancement of the Company.

Mega Move on BSE :

Shares of Ambuja Cements gained 2.37% Intraday to Rs 616 against the previous close of Rs 601.70 on BSE. Market Cap of Adani Group firm rose to Rs 1.21 lakh crores.

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