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Indian billionaire Gautam Adani and his family injected $799 million to increase its stake in Ambuja Cements Ltd. as the business tycoon showed signs of confidence in its cement business amid the country’s infrastructure boom.
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Adani Enterprises is investing nearly Rs 10007 crore to set up a copper smelter with 0.5 MTPA (million tonnes per annum) capacity in the first phase.
The Adani family has invested ₹6,661 crore in Ambuja Cements, increasing its stake to 66.7%. This marks the second fund infusion since late-2022, when ₹5,000 crore was invested through warrants. The total investment of ₹11,661 crore aims to enhance capital flexibility for growth and strategic initiatives. Adani Cement, comprising ACC and Ambuja Cements, targets a production capacity of 140 million tonnes by 2028. The funds will support capacity expansion, operational efficiency, and strategic initiatives, including resource optimization and supply chain enhancements.
Mumbai’s billionaire wealth stands at $445 billion, with an increase of 47% from previous year, as against Beijing’s $265 billion, a 28% decrease. Some of the factors behind India’s robust economic performance are strong markets, investor confidence and immense opportunities for business creation