Adani family infuses ₹6,661 crore into Ambuja Cements, raises stake to 66.7%

28/03/2024

Adani family increased their stake in the Ambuja Cement by 3.6 percent to attain 66.7 percent holding.

Adani family, promoters of Ambuja Cement, infused ₹6,661 crore into the cement and building materials company under the Adani portfolio. With this, it pushed up the stock nearly 2 percent and increased their stake in the Ambuja Cement by 3.6 percent to attain 66.7 percent holding.

What Ambuja Cements said on the move?

Ambuja Cements said that the investment will fortify company’s financial position and is in line with its ambitious growth plans. “This strategic move underscores unwavering commitment to have robust capital management philosophy for the portfolio companies and the latest investment testifies the commitment by Adani family to boost future prospects and potential of cement vertical,” Ambuja Cements said in a regulatory filing.

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