Adani Group has made an open offer to acquire 26 per cent stake in two listed companies Ambuja Cements and ACC Ltd of Holcim Limited. A day earlier, Adani had announced the acquisition of Holcim’s India business in a deal worth $10.5 billion. Shares of Ambuja Cement today closed at Rs 367.40, up almost 3%. At the same time, the shares of ACC closed at Rs 2,192.50 with a gain of 3.75%.
how much is this offer
Asia’s richest man Gautam Adani’s group on Monday made an open offer of Rs 385 per share for Ambuja Cements and Rs 2,300 per share for ACC Ltd through its Mauritius-based subsidiary Endeavor Trade & Investment.
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what is the plan
Adani Group has made an open offer for Ambuja Cements to acquire 51.63 crore equity shares from its public shareholders, which is 26 per cent of the expanded share cap, and an aggregate amount of Rs 19,879.57 crore. At the same time, for ACC Limited, the group has offered to acquire 4.89 crore shares of public shareholders. This is 26 per cent of the share capital and the total offer is Rs 11,259.97 crore.
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What did the Adani Group say?
The group said that all necessary statutory clearances are yet to be obtained for this offer. Earlier on Sunday, the Adani Group had announced the acquisition of a controlling stake of Holcim Limited in India. The group has done this acquisition agreement for $ 10.5 billion (about Rs 81,300 crore). With this, the Adani Group has now forayed into the cement sector as well.