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MUMBAI: Holderind Investments, an Adani group promoter entity of Ambuja Cements, is selling nearly 7 crore shares of the company, representing 2.8% of its equity capital to raise about Rs 4,200 crore through block deals on Friday. The shares are being offered at a floor price of Rs 600 – a 5.2% discount to Ambuja Cement’s closing price on the BSE on Thursday, sources said.
As of June 30 this year, the Gautam Adani-led group through its various arms held about 70.3% in the cement major, shareholding disclosures on the BSE showed. After the deal, its holding in the company would fall to 67.5%.
In Oct 2022, Ambuja Cements had issued warrants to the promoter group which were converted into equity shares in March this year. As a result, the promoter group’s total holding in the cement maker had gone up from about 63% to 70.3%. Earlier in the day, a news report had said that the group was eyeing to pare its stake in Ambuja Cements and Adani Power to raise funds to pare debt.
As of June 30 this year, the Gautam Adani-led group through its various arms held about 70.3% in the cement major, shareholding disclosures on the BSE showed. After the deal, its holding in the company would fall to 67.5%.
In Oct 2022, Ambuja Cements had issued warrants to the promoter group which were converted into equity shares in March this year. As a result, the promoter group’s total holding in the cement maker had gone up from about 63% to 70.3%. Earlier in the day, a news report had said that the group was eyeing to pare its stake in Ambuja Cements and Adani Power to raise funds to pare debt.
