Adani Defence and EDGE Group Forge Global Defence Partnership
The Adani family, led by Gautam Adani, has infused ₹8,339 crore into Ambuja Cements Ltd., increasing their stake to 70.3%. This investment, part of a larger strategy, aims to bolster Ambuja’s growth trajectory and cement its position in the market.
The Adani family’s investment, totaling ₹20,000 crore, underscores their commitment to Ambuja Cements. This latest infusion follows previous investments in October 2022 and March 2024, consolidating their position as the majority stakeholders.
The capital injection is intended to provide Ambuja Cements with the financial flexibility to pursue accelerated growth and enhance its operational capabilities. With a target capacity of 140 million tonnes per annum by 2028, the investment will fuel strategic initiatives such as debottlenecking capex and technological integration.
In the quarter ending December 2023, Ambuja Cements recorded a 39% increase in net profit and an 8% rise in revenue from operations compared to the previous year, reflecting its strong performance amidst market dynamics.
Barclays Bank PLC, MUFG Bank, Mizuho Bank, and Standard Chartered Bank played key roles as advisors for the transaction, highlighting the strategic partnerships facilitating Ambuja’s growth trajectory.
Ambuja Cements, alongside ACC Ltd. and Sanghi Industries Ltd., collectively contribute to Adani Group’s cement capacity, positioning the conglomerate as a significant player in the Indian cement industry.
Raghav Chadha is a young Indian politician and Chartered Accountant who has made a quick…
India is a country full of rich wildlife and natural beauty. It has hundreds of…
The hockey veteran Mr. Gurbax Singh Grewal was passed away at the age of 84…
Respectable Defense Minister of India Rajnath Singh is set to visit the Bishkek Kyrgyzstan to…
India's veteran player Virat Kohli has become the first batter in the IPL history to…
The US Department of Commerce has announced the preliminary anti-dumping duty on the solar cell…