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Corporate News

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(17 Apr 2024, 17:30)

Adani family infuses Rs 20,000 cr in Ambuja Cements' warrants program

Ambuja Cements announced that the Adani family has fully subscribed to the warrants program in the Company by further infusing Rs 8,339 crore thereby infusing total amount of Rs 20,000 crore. Adani family have increased their stake in the Company by further 3.6% to 70.3%. This follows, the investment of Rs 5,000  crore on 18 October 2022 and Rs 6,661 crore on 28 March 2024, which was for part issuance of the shares.

The funds infusion will be instrumental to accomplish the capacity of 140 million tonnes per annum by 2028 by the cement vertical. Further, it shall also enable various strategic initiatives including debottlenecking capex to enhance operational performance, as well as bringing efficiencies across resources, supply chain. This shall also drive innova...

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