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Adani Family Infuses Rs 6,661 Crore To Raise Stake In Ambuja Cements

The Adani family has invested Rs 6,661 crore in Ambuja Cements Ltd. to raise its stake in the company by 3.6%.

The capital infusion will bolster the Adani family’s stake to 66.7% and help Ambuja reach an annual cement production capacity of 140 million tonne by 2028, an exchange filing said.

The investment was done through Harmonia Trade and Investment Ltd., an entity owned by the Adani family and part of the promoter group of the cement maker.

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Ambuja Cements Share Price: Share price of Ambuja Cements jumps as Sensex gains 506.45 points

Promoters held 0.0 per cent stake in the company as of 31-Dec-2023, while FII and DII ownership stood at 11.88 per cent and 6.64 per cent, respectively.

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Ambuja Cements Share Price: Ambuja Cements rises 0.65% as Sensex slides

The stock traded at a P/E multiple of 37.04, while the price-to-book value ratio stood at 2.29.

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