Business

Adani Family Completes Ambuja Warrant Subscription Infuses INR 20,000 Cr to increase stake to 70.3%

Ambuja Cements Ltd (Ambuja), the cement and building materials flagship company under Adani’s portfolio, is pleased to announce a significant development in its growth trajectory. The promoters of the Company – Adani family have fully subscribed to the warrants program in the Company by further infusing INR 8,339 Cr thereby infusing total amount of INR 20,000 Cr. Adani family have increased their stake in the Company by a further 3.6% to 70.3%. This follows, the investment of INR 5,000 Cr on 18 October 2022 and INR 6,661 Cr on 28 Mar 2024, which was for part issuance of the shares.

This strategic move underscores the unwavering commitment to have a robust capital management philosophy for the portfolio companies and the latest investment testifies to the commitment by the Adani family to boost the prospects and potential of the cement vertical. The additional investment will fortify the Company’s financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalize on emerging opportunities in the market.

Also read: Ram Navami: Indian Stock Markets Shut, Resume On Thursday

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 innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector driven by the growth in the Indian economy.

“We are thrilled to announce completion of Adani family’s primary infusion of INR 20,000 Cr in Ambuja,” said Mr. Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd. “This infusion of funds provides Ambuja, capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength. It is not only testament to steadfast belief in our vision and business model but also reinforces our commitment to delivering long-term sustainable value creation to our stakeholders and this shall propel us towards setting new benchmarks accelerating our growth and continue to deliver on operational excellence, business synergies and cost leadership.”

Bharat Express English

Recent Posts

Reaffirming Gandhi Ji’s Global Relevance: PM Modi’s International Tributes

Prime Minister Narendra Modi continues to honor Mahatma Gandhi’s ideals beyond India’s borders. During his…

12 hours ago

Delhi High Court Upholds AIMIM’s Recognition As Political Party

'The petitioner’s arguments cannot override the constitutional rights of AIMIM members. This petition has no…

12 hours ago

‘Democracy First, Humanity First’: PM Modi Highlights India-Guyana Parallels In Parliament Address

PM Modi emphasized the shared struggles of India and Guyana for independence from colonization. PM…

13 hours ago

Maharashtra Records 65.11% Voter Turnout In Assembly Elections, Marking A 30-Year High

The rise in turnout came with an 8.5% increase in the number of eligible voters.…

14 hours ago

42 Killed, 14 Injured In Militant Ambush In Pakistan’s Kurram Agency

"42 people have died as a result of firing on passenger vehicles in Kurram district.…

15 hours ago

Delhi HC Denies Relief To Arvind Kejriwal In Money Laundering Case

The Delhi HC has refused to stay the proceedings against Arvind Kejriwal in the money…

16 hours ago