Ambuja Cement, which is now part of Adani Cement, said the warrants were issued at a price band of Rs 418.87.

Ambuja Cement stated that the Adani family firm's commitment of Rs 50 billion represents 25% of the restricted offered price.

In an EGM on October 8, shareholders of Ambuja Cements accepted proposals, including the resolution to raise Rs 200 billion from the Adani family firm by issuing warrants.