The Adani Family on Wednesday said it has fully subscribed to the warrants programme in Ambuja Cements by further infusing Rs 8,339 crore, increasing its stake in the building material company to 70.3 per cent.
This follows the investment of Rs 5,000 crore on October 18, 2022, and Rs 6,661 crore on March 28 this year by the promoter of the company, thereby infusing a total amount of Rs 20,000 crore in Ambuja Cements post-acquisition.
The funds' infusion will be instrumental to accomplish the capacity of 140 million tonnes per annum (MTPA) by 2028 by the cement vertical, the company said in a statement.
"This infusion of funds provides Ambuja capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength,” said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd.
“It is not only testament to a 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 continuing to deliver on operational excellence, business synergies, and cost leadership," Kapur added.
The additional investment will fortify the company's financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalise on emerging opportunities in the market.
Further, it will also enable various strategic initiatives including debottlenecking capex to enhance operational performance, as well as bringing efficiencies across resources and supply chain, said the company.
Earlier this week, Ambuja Cements announced the acquisition of My Home Group's 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu, for Rs 413.75 crore.
The acquisition takes Adani Group’s total cement capacity to 78.9 MTPA.
Ambuja, with its subsidiaries ACC Ltd and Sanghi Industries Ltd, has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated cement manufacturing plants and 19 cement grinding units across the country.
India's growth becoming more balanced as private consumption's share in GDP rises
The good news is that India’s growth is becoming more balanced as private consumption’s share in GDP rose in fiscal 2025, according to a Crisil report.
New SEBI chairman spells out 4-point mantra for capital markets regulator
The new SEBI Chairperson, Tuhin Kata Pandey, has a four-point mantra in mind -- trust, transparency, teamwork and technology -- for ensuring the continued efficiency of the capital markets regulator.
India's coal production sees 5.73 pc growth in April-Feb period to reach 928.95 MT
Cumulative coal production reached 928.95 million tonnes (MT) in the April-February period this fiscal (FY25), reflecting a 5.73 per cent increase compared to 878.55 MT in the same period last year, the government said on Saturday.
Eager to join Assam’s transformational journey: Gautam Adani
Assam is on a path to greatness amid several ongoing transformative projects and we are honoured to walk this path alongside you, Gautam Adani, Chairman of the Adani Group, said here on Tuesday.
Adani Group to invest Rs 50,000 crore in Assam to boost infra, create jobs
The Adani Group on Tuesday announced a massive Rs 50,000 crore investment in Assam, marking one of the highest-ever investment commitments by a business group to the state.
Indian stock market opens higher, Sensex above 74,600
Nifty Bank was up 33.70 points or 0.07 per cent at 48,685.65. Nifty Midcap 100 index was trading at 49,688.40 after declining 324.70 points or 0.65 per cent. Nifty Smallcap 100 index was at 15,382.20 after dropping 95.10 points or 0.61 per cent.
Adani Power gets Letter of Intent to acquire Vidarbha Industries Power
Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
Gautam Adani hails MP's investment readiness, transformative leadership of PM Modi, CM Yadav
Announcing a whopping Rs 1.10 lakh crore investment and creation of 1,20,000 lakh jobs by the end of the decade, India’s top businessman Gautam Adani lauded the transformative leadership of Prime Minister Narendra Modi and Chief Minister Dr Mohan Yadav,