Holderind Investments Ltd, a promoter group entity of Ambuja Cements, has initiated a block deal to sell a 2.84% stake in the company for Rs 4,198 crore.
The floor price for the block deal is set at ₹600 per share, reflecting a 5% discount from the last closing price of ₹631.80 on August 22. Over the past year, Ambuja Cements’ stock price has risen by nearly 38%.
Holderind Investments Ltd currently holds a 50.90% stake in Ambuja Cements, while the promoter group collectively owns 70.33% of the company. Investment bank Jefferies is advising on the deal, and the transaction includes a 60-day lock-in period.
Earlier this year, in June, Ambuja Cements, owned by the Adani Group, acquired a 100% stake in Penna Cement Industries Ltd for an enterprise value of ₹10,422 crore. This acquisition is part of the Adani Group’s strategy to achieve a cement production capacity of 140 million tonnes per annum (MTPA) by 2028.
