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- Gautam Adani Family Ambuja Cement Update | Adani Ambuja Cements Investment
New Delhi24 minutes ago
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Billionaire Gautam Adani’s family has invested Rs 6,661 crore in Abuja Cement, increasing their stake in the cement-making company by 3.6% to 66.7%. Ambuja Cement has given information about this in its exchange filing.
Earlier in October 2022, Adani Family had invested Rs 5,000 crore in Abuja Cements through securities. After the acquisition, the promoters of the company have so far invested Rs 11,661 crore in Ambuja.
The company said that this investment will strengthen its financial position and we will be able to take advantage of emerging opportunities as well as proceed with the development plan. Adani Group had bought Abuja Cement and ACC Cement for $10.5 billion in June 2022.
This is testament to the strong belief in the vision and business model.
Ajay Kapoor, CEO of Abuja Cement, said, ‘We are delighted to announce the decision of the Adani family to increase their stake. The fund provides capital flexibility to Abuja to accelerate growth.
“This is not only testament to the strong belief we have in our vision and business model, but also reinforces our commitment to creating long-term sustainable value for our stakeholders.”
Ambuja Cement shares rose more than 2%
Ambuja Cement shares are seeing a rise of more than 2% today. At 1 pm, the company’s shares were trading at Rs 614 with an increase of 2.19%. Ambuja Cement shares have seen a rise of more than 46% in the last 6 months.
What is a guarantee?
A guarantee is a type of financial contract. Companies use it to raise money. It gives investors the right to buy or sell a certain number of shares of that company at a fixed price before they expire.
Indian and US warrants can be exercised at any time on or before the expiry date, while European warrants can only be exercised on the expiry date. A warrant that gives the right to buy shares is called a call warrant. At the same time, those that give the right to sell shares are called warrants.
