Adani warrant conversion deadline may boost Ambuja Cements

09 Feb 2024 CW Team

The spotlight in the upcoming weeks may fall on Ambuja Cements' shares as the Adani Group's eighteen-month deadline to convert its warrants into the company's shares approaches on April 18.

In October 2022, Ambuja Cements issued warrants worth Rs 200 billion to the Adani Group on a preferential basis at Rs 418.8 per share. A mandatory upfront payment of Rs 50 billion, constituting 25% of the warrant issue, was received by the company.

As the deadline approaches, the Adani Group is required to bring in an additional Rs 150 billion. Failure to convert the warrants would result in the forfeiture of the Rs 50 billion payment made by the conglomerate.

At present, Ambuja Cements' stock is trading at Rs 555, reflecting a 32% premium over the issue price of Rs 418.8.

According to SP Tulsian, an independent market analyst, "Amidst the ongoing infrastructure surge and the influx of capital for capital expenditures, Ambuja's stock is poised for strong performance in the short term. Despite investor awareness regarding warrant conversion, the impending event is anticipated to have a positive impact."

The conversion of warrants into shares would increase the Adani Group's stake in Ambuja from 63.19% to 70.33%. In 2022, the Adani Group declared its acquisition of Swiss cement major Holcim's stake in Ambuja Cements and ACC. Over the past three months, the stock has rallied by 32%, and in the last year, it has seen a 57% increase, compared to the 14% and 24% gains in the Nifty during the respective periods.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..