Through Endeavour Trade and Investment Ltd, the Adani group has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd, which involved the acquisition of Holcim’s stake in Ambuja and ACC. In the month of May, the first transaction announcement was made. After the transaction, the stake held in Adani will be 63.15 per cent in Ambuja Cement and 56.69 per cent in ACC, of which 50.05 per cent is held through Ambuja Cements.
The board of Ambuja Cements has approved an infusion of Rs20,000 crore into Ambuja by preferential allotment of warrants, the statement added, to help Ambuja capture the growth in the market.
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The Board of Directors of Ambuja Cements approve an infusion of Rs 20,000 crore into Ambuja through preferential allotment of warrants, as per the statement of Ambuja Cement.
“What makes cement an exciting business is the headroom for growth in India, which exceeds that of every other country well beyond 2050,” said Gautam Adani, Chairman, Adani Group.
“Cement is a game of economics dependent on energy costs, logistics and distribution costs, and the ability to leverage a digital platform to transform production as well as gain significant supply chain efficiencies. Each of these capabilities is a core business for us and therefore provides our cement business with a set of unmatched adjacencies. It is these adjacencies that eventually drive competitive economics. In addition, our position as one of the largest renewable energy companies in the world will help us manufacture premium quality green cement well in line with the principles of a circular economy,” he said.
