New Delhi, August 26
Adani Group on Friday launched its Rs 31,000-crore open offer to acquire 26% additional stake from the public shareholders of Swiss firm Holcim’s two Indian listed entities ACC Ltd and Ambuja Cements.
- In May this year, the Adani Group had clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for $10.5 bn
- As per the revised schedule, the tendering of shares opens from August 26 and will end on September 9
- In May, the Adani Group had made an open offer at Rs 385 per share for Ambuja Cements and Rs 2,300 per share for ACC
In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for $10.5 billion.
Markets regulator SEBI granted approval for the open offer last week. The open offer is estimated at over Rs 31,000 crore if fully subscribed.
In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group’s Mauritius-based firm Endeavour Trade and Investment.
As per the revised schedule submitted by ICICI Securities and Deutsche Equities India, managers to the open offer, the tendering of shares opens from August 26 and will end on September 9, 2022.
In May, the Adani Group had made an open offer at Rs 385 per share for Ambuja Cements and Rs 2,300 per share for ACC.
For Ambuja Cements, the group had made an open offer to the public shareholders to acquire up to 51.63 crore equity shares, representing 26% of the expanded share capital, aggregating to Rs 19,879.57 crore.
Don't MissView All
Delhi MCD poll LIVE updates: Voting under way for 250 municipal wards; 45 per cent voter turnout recorded till 4 pm
The counting of votes will take place on December 7
In his speech at IFFI-2022, Lapid had said he was ‘disturbed...
The seized drugs are the spurious versions of leading brands...
The follow-up programme of Bharat Jodo Yatra will have yatra...
Discuss Russia-Ukraine war, highlight emerging security chal...