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Promoters to Sell 2.84% Stake in Ambuja Cements, Raising ₹4,200 Crore

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Synopsis:

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.

Ambuja Cements News Today

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.

Block Deal Details

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.

AMBUJA CEMENTS LTD

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572.751.00 (0.17 %)

Updated - 13 December 2024
574.95day high
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564.05day low
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2266532
VOLUME (BSE)

Current Holdings and Investments

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’s Market Position

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 Performance

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.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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