gowtham athani, Athani buying cement companies.. Super deal for 31000 crore rupees!! – adani likely to launch nearly ₹31,000 cr open offer for acc and ambuja on upcoming week

Recently two companies Ambuja Cements and ACC have filed open letter of offer in the stock markets.

So the Adani Group plans to buy 26% stake in Swiss-based Holcim’s Indian listed subsidiaries ACC and Ambuja Cements and buy them outright by paying a subscription of Rs 31,000 crore.

ACC has decided to sell 4,89,56,419 absolute shares at a price of Rs 2,300 (face value Rs 10), according to a regulatory filing by the two companies.

Similarly, Ambuja Cement has decided to sell 51,63,52,655 equity shares at a price of Rs.385 per share (face value of Rs.2).

In May this year, the Adani Group entered into definitive agreements with Holcim to acquire the Switzerland-based company’s entire stake in India’s leading cement companies, Ambuja Cements and ACC.