In a significant move, the Adani family has infused an additional Rs 8,339 crore into Ambuja Cements, increasing its stake in the company to 70.3%. This investment is part of the Adani family investment in Ambuja Cement and their commitment to support the cement maker’s manufacturing capacity.
Previously, the Adani family had invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With this latest infusion, they have completed a planned infusion of Rs 20,000 crore, as stated by the company.
The promoters of Ambuja Cement, the Adani family, have fully subscribed to the warrants program by infusing a total of Rs 20,000 crore. This recent investment has increased the Adani family’s stake in Ambuja Cement by 3.6% to 70.3%.
The fund infusion will enable Ambuja to accelerate its growth ambitions, aiming to nearly double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes as of December 31.
Ajay Kapur, CEO of Ambuja Cements Ltd, expressed enthusiasm about the completion of the Adani family’s primary infusion of Rs 20,000 crore in Ambuja. He highlighted that this infusion provides Ambuja with capital flexibility for fast-tracked growth, capital management initiatives, and a best-in-class balance sheet strength.
The investment underscores the Adani family’s commitment to boosting the future prospects and potential of the cement vertical. It will fortify Ambuja’s financial position, enabling it to pursue ambitious growth plans and capitalize on emerging market opportunities.
The funds infusion will not only support capacity expansion but also enable various strategic initiatives to enhance operational performance and drive innovation and product enhancement through advanced technology integration. This move is expected to better serve the growing requirements of the sector driven by the growth in the Indian economy.
Barclays Bank PLC, MUFG Bank, Mizuho Bank, and Standard Chartered Bank acted as advisors for the transaction, reflecting the strategic importance of the investment in Ambuja Cement by the Adani family.
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