Ambuja Cements Limited (Ambuja), the cement and building materials flagship company under the Adani portfolio, on Wednesday announced via an exchange filing that the promoters of the company, the Adani family, have fully subscribed to the warrants program, thereby infusing an additional Rs 8,339 crore. This infusion brings the total amount infused to Rs 20,000 crore.
The Adani family has increased their stake in the company by a further 3.6 per cent, reaching 70.3 per cent. This increment follows investments of Rs 5,000 crore on October 18, 2022, and Rs 6,661 crore on March 28, 2024, which were for the partial issuance of shares, the company said in the regulatory filing.
"We are thrilled to announce completion of Adani family's primary infusion of Rs 20,000 Cr in Ambuja," said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd.
"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," he added.
The infusion of funds will play a crucial role in reaching the goal of achieving a capacity of 140 million tonnes per annum by 2028 for the cement sector.
Barclays Bank PLC, MUFG Bank, Mizuho Bank, and Standard Chartered Bank served as advisors for the transaction.
Ambuja Cements Limited shares
The shares of Ambuja Cements Limited on Tuesday at 3:30 pm IST closed at Rs 622.00, up by 2.50 per cent.
