Adani injects Rs 8,339cr into Ambuja Cements

New Delhi: Billionaire Gautam Adani’s family infused an additional Rs8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker’s manufacturing capacity.

The Adani family previously invested Rs5,000 crore in the company on October 18, 2022, and Rs6,661 crore on March 28, 2024. With the latest investment, it has completed Rs20,000 crore planned infusion, the company said in a statement. “The promoters of the company - Adani family - has fully subscribed to the warrants program in the company by further infusing Rs8,339 crore, thereby infusing a total amount of Rs20,000 crore,” it said.

The latest infusion raises the Adani family stake in Ambuja Cement by 3.6 per cent to 70.3 per cent. In all, its holding in Ambuja Cement has increased from 63.2 per cent to 70.3 per cent. The fund infusion will help Ambuja accelerate its growth ambitions to almost double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes as of December 31. “With this, promoters have further strengthened 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. In 2022, the Adani group entered the cement sector with a $10.5 billion deal to buy Ambuja and ACC from Swiss giant Holcim.

“This strategic move underscores unwavering commitment to have a robust capital management philosophy for the portfolio companies, and the latest investment testifies the commitment by the Adani family to boost future prospects and potential of cement vertical.