Adani Group is preparing to sell 2.84% stake in Ambuja Cements through block deal. Through this deal, the group’s trade and investment firm Holderind Investments wants to raise Rs 4,200 crore by selling 6.99 crore shares. This information has been given in media reports citing the term sheet issued by the banker. According to reports, this deal will take place on Friday. Holderind Investments currently holds 50.90% stake in Ambuja Cements. From October 2023 till now, Adani Group has invested about Rs 20,000 crore in the company through warrant subscription. With this investment, the total stake of the group has increased to 70.33%. Adani Group’s total production capacity is 7.89 crore tonnes. The group invested Rs 15,000 crore in the company this year while Rs 5,000 crore was invested in October 2022. Adani Cement, the country’s second largest cement company, includes Ambuja Cements, ACC and Sanghi Industries. Their total production capacity is 78.9 million tonnes. Ambuja Cement’s stock rose 37.88% in a year
Ambuja Cement’s stock closed at Rs 639.50 today (Thursday, 22 August) with a gain of 1.63%). The company’s stock has given a negative return of 6.93% in the last one month. Whereas, it has given a return of 7.89% in six months and 37.88% in one year. Ambuja Cement’s stock has risen 19.69% this year. Adani Group bought Ambuja and ACC Cement in June 2022
Adani Group bought Ambuja Cement and ACC Cement for $10.5 billion in June 2022. This year, Gautam Adani’s family has invested ?8,339 crore in Ambuja Cement, increasing his stake in the cement manufacturing company to 70.3%. After the acquisition, the Adani family invested ?5,000 crore in Ambuja Cements through warrants on 18 October 2022. At the same time, on 28 March 2024, the Adani family invested ?6,661 crore, then their stake in the company increased by 3.6% to 66.7%. Ambuja Cement earns ?571 crore profit in the first quarter
Ambuja Cement has a net profit (standalone net profit) of Rs 571 crore in the first quarter of the financial year 2024-25. It has decreased by 11.5% on an annual basis. In the same quarter a year ago, the company had a profit of Rs 645 crore. Read this news too… Ambuja is buying Penna Cement, share rose 2.40%: Ambuja is currently trading at Rs. 680, Jefferies has given a target of Rs. 735. Adani Group’s Ambuja Cement is buying 100% stake in Penna Cement Industries Limited (PCIL). After this news, Ambuja Cement is seeing a rise of more than 2% today. At 10:30 am, Ambuja Cement share was trading at 680 level with a rise of 2.40%. Click here to read the full news…
