India's Adani Group-owned firm to sell stake worth $500 mln in Ambuja Cements
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
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Source: Reuters
Adani Group Share Sale: An Adani Group-owned company, Holderind Investments, is selling a 2.84% stake in Ambuja Cements for $500 million at a floor price of 600 rupees per share, which is a 5% discount to the previous closing price.
Overall Stake and Future Plans: As of June 30, Adani Group held a 70.33% stake in Ambuja Cements, with Holderind's 50.9% being a significant portion; additionally, Adani Enterprises is expected to launch a $1 billion share sale by mid-September.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
