Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%
The Hindu
This infusion of funds provides Ambuja, capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength.
Billionaire Gautam Adani’s family infused an additional ₹8,339 crore in Ambuja Cements, raising its stake in the company to 70.3%, to help the cement maker’s manufacturing capacity.
The Adani family previously invested ₹5,000 crore in the company on October 18, 2022, and ₹6,661 crore on March 28, 2024. With the latest investment, it has completed ₹20,000 crore planned infusion, the company said in a statement.
“The promoters of the company - Adani family - has fully subscribed to the warrants program in the company by further infusing ₹8,339 crore, thereby infusing a total amount of ₹20,000 crore,” it said.
The latest infusion raises the Adani family stake in Ambuja Cement by 3.6% to 70.3%.
In all, its holding in Ambuja Cement has increased from 63.2% to 70.3%.
The fund infusion will help Ambuja accelerate its growth ambitions to almost double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes as of December 31.
“With this, promoters have further strengthened Ambuja post-acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives,” the statement said.
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