Ambuja Cement stock is likely to witness a large block deal in trade tomorrow, August 23, as suggested by media reports. A report from CNBC-TV18 quoting sources stated that Ambuja Cement’s promoter Holderind Investments is likely to offload a 2.84% stake in the company via a large block deal tomorrow. The offer size of the entire block deal is at Rs 4,198 crore, the report from CNBC-TV18 added.
According to the report from CNBC-TV18, the issue price of the Ambuja Cements block deal is set at Rs 600 per share, which is at a 5% discount to today’s closing price of Rs 631.80 on the NSE.
Earlier today, CNBC-Awaaz had reported that the promoter of Adani Group is likely to offload stake in Adani Power and Ambuja Cements and raise money via the sale. The money will be further used for debt reduction in companies, the report said.
