Adani Group to Sell Stake in Ambuja Cements for ₹4,200 Crore: Here’s What You Need to Know

The Adani Group is planning to sell a 2.84% stake in Ambuja Cements on Friday through a block deal to raise about ₹4,200 crore. According to a term sheet from the banker, Holderind Investments, an entity of the Adani Group, will sell 69.96 million shares at a floor price of ₹600 each. This price is 5% lower than Thursday’s closing price of ₹633.

So far this year, shares of Ambuja Cements have gone up by 18%, while the Sensex has risen by 12%.

The Adani Group currently owns 70.33% of Ambuja Cements, with Holderind Investments holding 50.90% of the stake.

Since October 2023, the Adani Group has invested nearly ₹20,000 crore in Ambuja Cements, increasing their stake to 70.33%. Out of this, ₹15,000 crore was invested earlier this year, and ₹5,000 crore was invested in October 2022. Adani Cement, the country’s second-largest cement producer, includes Ambuja Cements, ACC, and Sanghi Industries, with a total production capacity of 78.9 million tonnes.