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Ambuja Cements said its promoters Adani family has infused INR 6,661 crore in the company. With this fund infusion, the Adani family’s stake in the company has increased by 3.6 per cent to 66.7 per cent. With this fund infusion, the Adani family’s stake in the company has increased by 3.6 per cent to 66.7 per cent. “The funds infusion will be instrumental in enhancing conclusively to accomplish the capacity of 140 million tonnes per annum by 2028 by the cement vertical,” Ambuja Cements said in filing to exchanges.
The investment will drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector. It will also be instrumental in fuelling various strategic initiatives including undertaking debottlenecking capex to enhance operational capabilities to ensure scalability, as well as bringing efficiencies across resources, supply chain.
“Additionally, it will drive innovation and product enhancement through advanced technology integration, aiming to better serve the growing needs of the sector,” the cement maker added. Ajay Kapur, Whole Time Director and CEO, Ambuja Cements, said, “This infusion of funds provides Ambuja capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength.”
In October 2022, the Adani family infused INR 5,000 crore into Ambuja Cements for exercising the warrants issuance. The promoters, so far, have infused INR 11,661 crore in Ambuja post acquisition, giving the cement and building material firm better service offerings to tap the growing requirements of the sector.
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