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Adani Group: Gautam Adani’s Adani Group, within days of completing the process of acquisition of cement company Ambuja Cement and ACC, pledged shares worth $ 13 billion i.e. Rs 1.04 lakh crore of both cement companies. ) is placed on. It is believed that the Adani Group has taken this big decision for the purpose of raising capital.
Deutsche Bank AG’s Hong Kong-based branch has informed Indian stock exchanges that 57 per cent stake in ACC and 63 per cent stake in Ambuja Cement Ltd has been pledged for the benefit of certain lenders and other financial parties. The Adani Group has pledged its shares in both the cement companies after concerns have been raised several times over the huge outstanding debt on the group.
Recently, the Adani Group entered the cement sector by buying Ambuja Cement and ACC from Holcim. Adani Group has set a target of doubling cement production capacity by 2027. Adani Group has become the second largest cement company in the country after this acquisition. With this acquisition, the Adani Group has also got a cash reserve of $ 1.4 billion (Rs 11,000 crore) of both the cement companies.
The shares of ACC have gained 29 per cent and Ambuja Cement has gained 60 per cent since Allen’s acquisition of Adani Group’s Ambuja Cement and ACC.
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