Adani family infuses ₹8,339 crore in Ambuja Cements, raises stake to 70.3%

17/04/2024

Adani Group Chairperson Gautam Adani.

Billionaire Gautam Adani and his family have infused an additional ₹8,339 cr in Ambuja Cements, the company said in a statement, raising their stake in the major cement-producing firm to 70.3 per cent. The latest investment follows the infusion of Rs5,000 crore on October 18, 2022, and ₹6,661 crore on March 28, 2024, which was for part issuance of the shares.

With this, the Adani family has fully subscribed to the warrants program in the company by infusing a total amount of ₹20,000 crore.

The investment comes amid Adani group’s stated target to capture around one-fifth of the Indian cement market by FY28.

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