Adani family invests ₹6,661 crore in Ambuja Cements, raises stake to 66.7%

The promoters have infused ₹11,661 crore so far in Ambuja Cements after they took control of the cement maker from Switzerland's Holcim.

The funds infusion is crucial as it will help to increase the group's cement capacity to 140 million tonnes per annum by 2028, Ambuja Cements said in a regulatory filing.

It will also fuel various strategic initiatives including undertaking debottlenecking capex to enhance operational capabilities to ensure scalability, as well as bringing efficiencies across resources, supply chain.

Additionally, it will also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector.

"We are thrilled to announce Adani family's decision to increase their stake in Ambuja," said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd.

"This infusion of funds provides Ambuja capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength. It is not only the 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," Kapur said.

Barclays Bank PLC, MUFG Bank and Standard Chartered Bank acted as advisor for the transaction.

At 12:10 pm, the scrip was trading 1.56% higher at ₹610.90 apiece on the NSE. The Ambuja Cements stock has jumped 14% so far in 2024.