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Adani Group entity, Holderind Investments to sell 2.84% stake in Ambuja Cements for ₹4,200 crore via a block deal. The floor price is ₹600 per share, a 5% discount. The Adani Group currently owns a 70.33% stake in Ambuja Cements, with Holderind Investments holding 50.90% of that stake.
The Adani Group, a prominent conglomerate in India, is reportedly set to sell a 2.84% stake in Ambuja Cements on Friday. This sale is expected to generate approximately ₹4,200 crore for the group, as per a term sheet issued by the banker.
The sale will be executed through a block deal, with Holderind Investments, an Adani Group entity, offering 69.96 million Ambuja Cements shares at a floor price of ₹600 per share. This price represents a 5% discount to Thursday’s closing price of ₹633, providing potential buyers with an attractive entry point into Ambuja Cements.
The Adani Group currently owns a 70.33% stake in Ambuja Cements, with Holderind Investments holding 50.90% of that stake. The group has significantly boosted its investment in Ambuja Cements since October 2023, injecting approximately ₹20,000 crore into the company.
This investment was made through the subscription to warrants, with ₹15,000 crore invested earlier this year and an additional ₹5,000 crore in October 2022.
Adani Cement, which encompasses Ambuja Cements, ACC, and Sanghi Industries, stands as the second-largest cement producer in India. The group’s combined production capacity is 78.9 million tonnes, making it a formidable player in the industry.
Despite the recent decision to offload a stake in Ambuja Cements, the Adani Group’s substantial investments reflect its long-term commitment to maintaining a strong presence in the cement sector.
Ambuja Cements' share price closed at ₹639.50 in the previous session, reflecting a decline of ₹10.25 or 1.63% on the NSE. Despite this recent dip, the stock has delivered a robust return of 41.08% over the past 12 months, appreciating by ₹186.20.
As the market anticipates the block deal, stakeholders will closely monitor the impact on both Ambuja Cements' share price and the broader cement industry.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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