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- As much as ₹5,000 crore was infused the promoter into the company in October 2022.
- In total, promoters infused ₹11,661 crore in
Ambuja post acquisition, giving it capital flexibility for growth.
New Delhi, The Adani family, the promoter of
This investment follows an infusion of Rs 5,000 crore the promoter into the company for exercising the warrants issuance approved the board in October 2022.
“With this, Adani family have increased their stake in the company 3.6 per cent to attain 66.7 per cent holding,” said Ambuja Cements which also owns controlling stake in another cement firm ACC Ltd.
With this, promoters have infused Rs 11,661 crore in Ambuja post acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives, the statement said.
“The additional investment will fortify the company’s financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalize on emerging opportunities in the market,” it said.
This investment shall also be instrumental in fuelling various strategic initiatives including undertaking debottlenecking capex to enhance operational capabilities to ensure scalability as well as bringing efficiencies across resources, supply chain.
“This shall also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector,” it said.
Ambuja Cements CEO
“It is not only the 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,” he said.
Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cements annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently acquired
In September 2022, Adani group has acquired controlling stakes of