Adani Group to sell shares worth Rs 4,200 crore in Ambuja Cement on Friday

The Adani Group is likely to sell a 2.84% stake in Ambuja Cements on Friday through a block deal to raise around Rs 4,200 crore. According to a term sheet issued by the banker, Holderind Investments, an Adani Group entity, will sell 69.96 million shares at a floor price of Rs 600 per share. The floor price represents a 5% discount to Thursday’s closing price of Rs 633.

Shares of Ambuja Cements have rallied 18% so far this year, compared to a 12% gain in the Sensex.

The Adani Group currently holds a 70.33% stake in Ambuja Cements, with Holderind Investments holding a 50.90% stake.


Since October 2023, the Adani Group has invested about Rs 20,000 crore in the company through subscription to warrants, increasing their total stake to 70.33%. Of this, Rs 15,000 crore was invested earlier this year while Rs 5,000 crore was invested in October 2022.

Adani Cement, the second-largest cement producer in the country, comprises Ambuja Cements, ACC, and Sanghi Industries, with a combined production capacity of 78.9 million tonnes.

Jefferies India is the advisor for the block deal, which will be done on Friday.