Apollo Global Management (AGM), which owns a minority stake in JSW Cement, is planning to offer up to $1 billion to the Sajjan Jindal-led JSW group to make a bid for Ambuja Cements, media reported.

• Pacific Atolls Face $10 Billion Challenge from Rising Seas: World Bank
• India and China Set to Shape the Global Economy’s Future
• SarvaGram Raises Rs 565 Crore Funds Through Series D Funding Round 
• PM Modi to Receive Dominica’s Top Honor for COVID Contributions
• Small Companies Driving GPU Access in India

The Jindal family, which is in talks with several private equity firms for financing the transaction, is likely to pledge part of its 45 per cent stake in group flagship JSW Steel to raise funds for the acquisition, the sources said. The steel company was valued at Rs 1.75 trillion on the Indian stock market. Also, Jindals own 75 per cent of JSW.