fbpx

Adani Boosts Stake in Ambuja Cements with ₹6,661 Crore Investment

Adani family injects ₹6,661 crore into Ambuja Cements, increasing their stake to 66.7%. This marks their second major investment since late 2022 when they infused ₹5,000 crore through warrants.

The move aims to bolster Ambuja’s capital base for accelerated growth and strategic initiatives. Ambuja, part of Adani Cement along with ACC, targets a production capacity of 140 million tonnes by 2028. Currently, it can produce over 77 million tonnes annually.

The funds will support capacity expansion, operational efficiencies, and streamlining the supply chain. The investment, facilitated by Harmonia Trade and Investment, involves converting 212 million warrants into Ambuja shares.

CEO Ajay Kapur expressed excitement about the increased stake, highlighting its positive impact on Ambuja’s growth trajectory and financial strength.

Advisors for the transaction included Barclays Bank PLC, MUFG Bank, and Standard Chartered Bank.

Adani’s entry into the cement sector through the acquisition of Ambuja Cements and ACC in 2022, valued at over $10 billion, marked a significant move in the materials industry.

With robust demand expected in the cement sector, fueled by government infrastructure spending, Ambuja and other players are gearing up for capacity expansion.

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News
      Logo