Adani Group Offers ₹31,000 Cr To Buy 26% Of ACC, Ambuja Cements
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Adani Group Offers ₹31,000 Cr To Buy 26% Of ACC, Ambuja Cements

Adani Group, on Friday, made an offer of ₹31,000 to acquire 26 per cent of additional Stake from shareholders of two Indian listed companies of Holcim, ACC Ltd and Ambuja Cements. In May this year also, Adani Group had already shown keen interest and announced that it had already cracked a big deal to acquire a major stake in Holcim Ltd’s businesses in India, for $10.5 Billion.

Adani Group Offers ₹31,000 Cr

Adani Group Offers ₹31,000 Cr To ACC, Ambuja Cements In Return of 26% Stake

Last week, market regulator SEBI approved the open offer deal and if completely subscribed to the offer it would be extended over ₹31,000 Cr.

“In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group’s Mauritius-based firm Endeavour Trade and Investment”, mentioned by News18.

Shares rendering is to be open from August 26 till September 9, 2022, as per the modified schedule of ICICI Securities and Deutsche Equities India, the managers of the offer.

Adani Offered Rs 385 Per Share In May

In May, Adani Group made an offer of Rs 385 per share and ₹2,300 per share for Ambuja Cements and ACC Ltd respectively.

“For Ambuja Cements, the group had made an open offer to the public shareholders to acquire up to 51.63 crore equity shares, representing 26 per cent of the expanded share capital, aggregating to Rs 19,879.57 crore.”

“For ACC Ltd, the group had offered to acquire up to 4.89 crore shares held by public shareholders, representing 26 per cent of the expanded share capital, aggregating to Rs 11,259.97 crore,” mentioned by News18.

On May 15, “the Adani Group had announced a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for USD 10.5 billion (around Rs 83,920 crore current value), marking the ports-to-energy conglomerate’s entry into the cement sector.”

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Adani Group will have a 63.1 per cent stake in Ambuja Cements and in all of its assets, also Ambuja’s domestic subsidiaries including ACC Ltd., which is publicly traded.

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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