Several significant block deals totaling Rs 4,251 crore were executed on August 23 for Ambuja Cements, with Holderind Investments, an entity of the Adani Group, likely being the seller.
By 09:23 am, Ambuja Cements’ shares were trading around 3 percent higher at Rs 650.20 on the NSE. Approximately 6.8 crore shares, representing a 2.76 percent stake in the company, changed hands at a floor price of Rs 625.5 per share.
Though the specific buyers and sellers could not be immediately confirmed, previous reports indicated that Holderind Investments was planning to sell a 2.84 percent stake in Ambuja Cements for around $500 million. This transaction is expected to initiate a 60-day lock-in period for further stake sales.
The block deal appears to be part of a broader strategy to diversify the company’s shareholder base and attract long-term investors focused on infrastructure assets.
Holderind Investments currently holds 50.90 percent of the promoter group’s 70.33 percent stake in Ambuja Cements. The Adani Group, since acquiring a controlling stake, has invested nearly Rs 20,000 crore into the company, making Ambuja Cements part of India’s second-largest cement producer alongside ACC and Sanghi Industries, with a combined production capacity of 78.9 million tonnes.
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Source: Moneycontrol
News Desk
