AHMEDABAD: Adani Family, the promoters of Ambuja Cements Limited, on Wednesday introduced that it’ll infuse an additional Rs 8,339 crore into Ambuja Cements Limited, by absolutely subscribing to the warrants programme in the corporate. This will take the promoter’s complete infusion of Adani Family to Rs 20,000 crore into Ambuja Cements, the cement and constructing materials firm of the ports-to-power conglomerate.Side by facet, Adani Group’s stake in Ambuja may even improve by an additional 3.6% to 70.3%, the corporate stated in its inventory change submitting.
The announcement adopted an funding of Rs 5,000 crore in October 2022 and Rs 6,661 crore in March this 12 months, which was for half issuance of the shares. This funding is a part of Ambuja’s technique to double its manufacturing capability to 140 million tonne every year (MTPA) by 2028.
Ambuja Cements not too long ago introduced its plans to purchase My Home Group’s 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu for Rs 413.75 crore.
The additional capital from Adani Family will allow Ambuja Cements to fast-track its growth plans. These embrace operational debottlenecking, provide chain effectivity enhancements, and expertise integration for product enhancement.
Ajay Kapur, entire time director & CEO, Ambuja Cements, stated, “This investment strengthens Ambuja’s balance sheet and accelerates growth. The funds will aid in setting new industry benchmarks and maintaining cost leadership.”
The transaction was suggested by Barclays Bank PLC, MUFG Bank, Mizuho Bank, and Standard Chartered Bank.
The announcement adopted an funding of Rs 5,000 crore in October 2022 and Rs 6,661 crore in March this 12 months, which was for half issuance of the shares. This funding is a part of Ambuja’s technique to double its manufacturing capability to 140 million tonne every year (MTPA) by 2028.
Ambuja Cements not too long ago introduced its plans to purchase My Home Group’s 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu for Rs 413.75 crore.
The additional capital from Adani Family will allow Ambuja Cements to fast-track its growth plans. These embrace operational debottlenecking, provide chain effectivity enhancements, and expertise integration for product enhancement.
Ajay Kapur, entire time director & CEO, Ambuja Cements, stated, “This investment strengthens Ambuja’s balance sheet and accelerates growth. The funds will aid in setting new industry benchmarks and maintaining cost leadership.”
The transaction was suggested by Barclays Bank PLC, MUFG Bank, Mizuho Bank, and Standard Chartered Bank.
