Adani group infuses Rs 8,339 cr more into Ambuja Cements, total stake now at 70.3%

Adani group infuses Rs 8,339 cr more into Ambuja Cements, total stake now at 70.3%
The Adani family, the promoters of Ambuja Cements, have infused an additional Rs 8,339 crore into the cements company under the warrants program, increasing its stake in the company to 70.3 percent and total investment to Rs 20,000 crore, according to an exchange filing issued on April 17 .

The family had invested Rs 5,000 crore in October 2022, Rs 6,661 crore on 28 March 2024, which was for part issuance of shares, the filing said.
The company said the fund infusion will be important in achieving the capacity of 140 million tonnes per annum by 2028 by the cement vertical.

"We are thrilled to announce completion of Adani family's primary infusion of Rs 20,000 crore in Ambuja," said Ajay Kapur, whole-time director and CEO, Ambuja Cements.

"This infusion of funds provides Ambuja, capital flexibility for fasttracked growth, capital management initiatives and best-in-class balance sheet strength. It is not only testament to 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 continue to deliver on operational excellence, business synergies and cost leadership," Kapur added further.