Ambuja Cements allots warrants to Adani family firm

01 Nov 2022

Ambuja Cements has raised Rs.50 billion by issuing 477.4 million warrants to the Adani family enterprise, Harmonia Trade and Investment. Ambuja Cement, has reportedly said the warrants were issued at a price band of Rs.418.87.

Additionally, the company reportedly shared that the Adani family firm's commitment of Rs.50 billion represents 25 per cent of the restricted offered price. In an EGM, shareholders of Ambuja Cements accepted proposals, including the resolution to raise Rs.200 billion from the Adani family firm.

Contact: Ambuja Cements

Related Stories