Adani Group in talks to acquire additional stake in ACC, Ambuja

29 Aug 2022 CW Team

Adani Group launched its Rs 31,000-crore open offer to acquire 26% additional stake from the public shareholders of Swiss firm Holcim’s two Indian listed entities ACC and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim’s businesses in India for $10.5 billion.

Markets regulator Sebi granted approval for the open offer last week. The open offer is estimated at over Rs 31,000 crore if fully subscribed.

In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Real Estate

07 Jul 2026

Isprava Partners Courtside to Launch Luxury Padel Experience

Luxury home developer Isprava has partnered with Courtside, Mumbai's first padel social club, to launch The Isprava Court, integrating its design-led lifestyle proposition with one of the city's emerging sporting destinations.Located on the rooftop of Atria Mall in Worli, Courtside spans 20,000 sq ft and combines padel, wellness, hospitality and community experiences. Since opening in February 2026, the venue has positioned itself as a social hub for sports and lifestyle enthusiasts.The Isprava Court features curated brand elements, including bespoke court branding, branded nets, towels and ac..

Technology

07 Jul 2026

Kellton Tech, AEC Form JV to Drive GCC Energy Digitalisation

Kellton Tech EU, a wholly owned subsidiary of Kellton Tech Solutions, has formed a strategic joint venture (JV) with Kuwait-based Action Energy Company (AEC) to accelerate AI-led digital transformation across the Gulf Cooperation Council (GCC) energy sector.Under the agreement, AEC will hold a 51 per cent stake in the JV, while Kellton Tech EU will own the remaining 49 per cent. The venture has been established for an initial five-year term and will focus on delivering digital oilfield solutions, enterprise software, cloud computing, cybersecurity, enterprise resource planning (ERP), systems i..

Equipment

07 Jul 2026

Plant & Equipment Secures Funding to Expand Auction Business

Plant & Equipment (P&E), a global heavy equipment marketplace, has secured asset-backed financing to accelerate the growth of P&E Auctions, its auction business serving buyers and sellers across the Middle East, Africa and other international markets.The investment will be used to acquire physically inspected construction equipment, lifting machinery and commercial vehicles, enabling the company to provide minimum guarantees on assets sold through its auction platform.Launched in December 2023, P&E Auctions has expanded rapidly following the success of the company's online mark..