Adani family makes an open offer to acquire 26% stake in Ambuja Cements, ACC, priced at $6.5 billion
Updated: 17 May 2022, 09:39 AM IST
TL;DR.Adani Group has made an open offer to its public shareholders to acquire up to 51.63 crore equity shares in Ambuja Cement, representing 26 per cent. In ACC, it has offered to acquire up to 4.89 crore shares, representing 26 per cent of the expanded share capital.
Adani Group now emerges as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.