Ambuja Cements shares surged nearly 2% during the early trade on April 18th, as stocks of the company witnessed an upbeat, owing to the Adani family subscribing to the company’s entire warrants program.
The development added another Rs 8,339 crore to their Ambuja Cement capital, a significant proportion, particularly from the ground of investments.
Further, the Adani family’s backing now totals a stunning Rs 20,000 crore for the capital-starved company. As a result, the cement maker’s stake has now seen an impressive addition of 3.6% to reach 70.3%, up from 63.2%.
Moreover, it is worth noting that this marks another investment by the Adani family.
In this regard, it is helpful to record that in October 2022, Ambuja Cements received an infusion of Rs 5,000 crore, followed by another investment of Rs 6,661 crore on March 28, 2024, per a BSE filing.
Additionally, it is pertinent to note that the purpose of the investment was mainly for the issuance of shares. As of 10:10 am, the stocks of Ambuja Cements were trading at ₹627.75, 1.65% up.