Ambuja Cements Ltd. said Adani family, its promoters, had fully subscribed to the warrants programme by further infusing ₹8,339 crore, thereby investing a total amount of ₹20,000 crore.
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Thus, the Adani family has increased its stake in the company by a further 3.6% to 70.3%.
“The additional investment will fortify the company’s financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalise on emerging opportunities in the market,” the company said in a statement.
“The funds infusion will be instrumental to accomplish the capacity of 140 million tonnes per annum by 2028,” the company added.
Ajay Kapur, Whole Time Director and CEO, Ambuja Cements Ltd., said, “This infusion of funds provides Ambuja, capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength.”