Adani sells 2.76% stake in Ambuja Cement for Rs 42.51 billion
Cement

Adani sells 2.76% stake in Ambuja Cement for Rs 42.51 billion

A billionaire's entity sold approximately 2.76 per cent of its stake in Ambuja Cements on Friday through an open market transaction, raising Rs 42.51 billion. As per the NSE bulk deal data, Holderind Investments, which is an Adani Group entity, sold 60.8 million shares at a price of Rs 625.5 per share.

It was reported that Rajiv Jain's investment fund, GQG Partners, bought shares worth Rs 16.79 billion. Following this purchase, GQG Partners Emerging Markets Equity Fund, which held a 1.35 per cent stake as of June 30, 2024, increased its holding to 2.04 per cent. During the January to March 2024 quarter, GQG Partners reportedly raised its investments in six Adani Group companies by around Rs 83 billion.

Other buyers of Ambuja Cements shares included SBI Life Insurance and the National Pension System (NPS) Trust, which acquired shares valued at Rs 5 billion and Rs 4.50 billion, respectively. As of June 30, 2024, the Adani Group held a 70.33 per cent stake in Ambuja Cements, with Holderind Investments holding 50.90 per cent of that stake.

A billionaire's entity sold approximately 2.76 per cent of its stake in Ambuja Cements on Friday through an open market transaction, raising Rs 42.51 billion. As per the NSE bulk deal data, Holderind Investments, which is an Adani Group entity, sold 60.8 million shares at a price of Rs 625.5 per share. It was reported that Rajiv Jain's investment fund, GQG Partners, bought shares worth Rs 16.79 billion. Following this purchase, GQG Partners Emerging Markets Equity Fund, which held a 1.35 per cent stake as of June 30, 2024, increased its holding to 2.04 per cent. During the January to March 2024 quarter, GQG Partners reportedly raised its investments in six Adani Group companies by around Rs 83 billion. Other buyers of Ambuja Cements shares included SBI Life Insurance and the National Pension System (NPS) Trust, which acquired shares valued at Rs 5 billion and Rs 4.50 billion, respectively. As of June 30, 2024, the Adani Group held a 70.33 per cent stake in Ambuja Cements, with Holderind Investments holding 50.90 per cent of that stake.

Next Story
Infrastructure Urban

India Spent Rs 1.5 Tn on Smart Cities in Past 10 Years

The Indian government launched the Smart Cities Mission on June 15, 2015, with the goal of transforming urban infrastructure across the country. As of April 11, 2025, ten years since its inception, over Rs 1.5 trillion has been spent on 7,504 completed projects, representing 94 per cent of the total planned projects valued at more than Rs 1.64 trillion. An additional Rs 131.42 billion worth of projects are currently under implementation. According to data from SBI Research, 92 per cent of the funds were utilised across 21 major states, with Uttar Pradesh, Tamil Nadu, and Maharashtra together ..

Next Story
Infrastructure Energy

Hyundai’s EcoGram Converts Gurugram’s Waste to Clean Energy

Hyundai’s EcoGram, a biogas plant and material recovery facility located in Gurugram, Haryana, has been established to support circular economy initiatives. The facility collects both wet and dry waste from 20 bulk waste generators, including residential welfare associations (RWAs), corporate offices, and commercial complexes, with assistance from the Municipal Corporation of Gurugram (MCG). At the facility, the collected waste undergoes processing—wet waste is converted into biogas, which is then used to generate electricity, while dry waste is sorted for recycling. Since its inception,..

Next Story
Infrastructure Transport

Metro Line 8 DPR Nears Completion; CIDCO to Float Rs 200 Bn Tenders

The City and Industrial Development Corporation (CIDCO) is nearing completion of the Detailed Project Report (DPR) for Metro Line 8, commonly known as the Gold Line. This strategic 34.9-kilometre corridor is set to link Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) with the upcoming Navi Mumbai International Airport (NMIA). Estimated to cost around Rs 200 billion, the project is being developed under the Public-Private Partnership (PPP) model. Once completed, Metro Line 8 will become Mumbai's second such corridor after Metro Line 1. CIDCO plans to float tenders once ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?