Page 2 - Ambuja Cements

Ambuja gets shareholders' nod for raising Rs 20K-cr from Adani group firm

Ambuja Cements Ltd on Saturday said it has received shareholders' approval for all proposals in its EGM, including a resolution to raise Rs 20,000 crore from an Adani group firm and appointment of Gautam Adani and others on the board of the company. The Extraordinary General Meeting (EGM) has passed the special resolution proposing to raise Rs 20,000 crore by issuing securities on a preferential basis to Harmonia Trade and Investment Ltd, an Adani group entity, with 91.37 per cent votes, Ambuja Cements said in a regulatory update. Resolutions to appoint Adani Group Chairman Gautam Adani, his son Karan Adani and two directors and four independent directors on the board of Ambuja Cements were also approved by the shareholders. The proposal for the appointment of Gautam Adani was approved with 96.51 per cent of the valid votes cast in favour, while the appointment of Karan Adani received 99.96 per cent votes, as per the scrutiniser's report on the voting results. The shareholder also

IiAS to Ambuja investors: Vote against Rs 20K-cr fundraise from Adani firm

Institutional investor advisory firm IiAS has recommended the shareholders of Ambuja Cements to vote against the proposal to raise Rs 20,000 crore from the Adani family firm by issuing warrants during the company's extraordinary general meeting. Besides, it has also advised shareholders to vote against the appointment of Ameet Desai and Purvi Sheth as independent directors of the company. Ambuja Cements, which also owns 50.05 per cent in ACC Ltd, has called an Extra Ordinary General Meeting (EGM) of the shareholders on Saturday. It has sought shareholders' approval on 12 resolutions, which include preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd, an Adani group entity, totalling Rs 20,001 crore in one or more tranches. The company has also sought approvals for the appointment of Adani Group chairman Gautam Adani, his son Karan Adani and two directors and four independent directors on the board. In its voting advisory,

Adani Wilmar, Adani Power freeze at 5% upper circuit; Ambuja Cements up 4%

Adani Green Energy, Adani Total Gas, Adani Enterprises and Adani Transmission were trading higher in the range of 2 per cent to 4 per cent

Ambuja Cements signs non-dealing pact with lenders on ACC stake

Ambuja Cements, now controlled by billionaire Gautam Adani-led Adani Group, on Wednesday said it has pledged 50.5 per cent shareholding in its subsidiary ACC Ltd as "collateral for loans taken by the company". The company pledged its total 9.39 crore shares of ACC Ltd on September 26, 2022, said a regulatory filing by Ambuja Cements. Adani has acquired the two firms -- Ambuja and ACC -- through a Mauritius-based SPV Endeavour Trade and Investment Ltd (ETIL), which is owned by Xcent Trade and Investment Ltd (XTIL). "The shares of Endeavour Trade and Investment Ltd, Xcent Trade and Investment Ltd and Holderind Investments shall also be charged for such loans," it added. Last week, Adani Group had said it had pledged its entire stake worth USD 13 billion in Ambuja Cements and ACC, days after completing its USD 6.5-billion acquisition of the two companies. Adani group has encumbered its 63.15 per cent stake in Ambuja Cements and 56.7 per cent stake in ACC (of which 50 per cent is held

Cement stocks snap six-day losing streak; India Cements soars 10%

The higher demand will mitigate the impact of lower profitability on absolute operating profits and cash accruals of cement makers, cushioning their credit profiles, Crisil Research said

Stocks to Watch: Harsha Engineers, Britannia, Coal India, Anupam Rasayan

Stocks to Watch: Harsha Engineers will make its debut on the bourses today. The issue price is fixed at Rs 330 per share. As per IPO Watch, the stock can list with a 50 per cent premium

Ambuja, ACC capacity to double to 140 mtpa in 5 years: Gautam Adani

Both companies will become country's most profitable cement firms as margins will go up due to rising demand: Gautam Adani

Ambuja rallies 11% on Adani's Rs 20K-cr boost; brokerages mixed on outlook

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market

Adani Group to become most profitable cement manufacturer: Gautam Adani

Days after completing a USD 6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country. Adani Group last week completed buyout of Swiss major Holcim's stake in the two firms. Calling the acquisition historic, he said this buyout is India's largest ever inbound M&A transaction in the infrastructure and materials space and closed in a record time of 4 months. "Our entry into this business is happening at a ..

Sensex rises 300 pts, Nifty tops 17,600 despite global weakness; PSBs lead

CLOSING BELL: Gainers outnumbered the losers on the frontline indices today, led by M&M, Bajaj Finance, SBI Life, Adani Ports, HUL, Bajaj Finserv, Nestle India, Eicher Motors, HDFC, ITC, and Infosys

Ambuja Cements hits new high, up 10% on Adani's Rs 20,000-cr funding plan

The company's new board approved an infusion of Rs 20,000 crore by way of preferential allotment of 477 million convertible warrants at a price of Rs 419 to Harmonia Trade and Investment

Stocks to Watch: ACC, Ambuja, Adani Power, ONGC, Zomato, Hero MotoCorp

Stocks to Watch Today: In the F&O space, Indiabulls Housing Finance, India Cements, PVR and RBL Bank are in the ban period on Monday

Adani becomes India's second-largest cement player after Ambuja, ACC deal

Adani becomes India's second largest cement player

Gautam Adani's elder son to oversee newly acquired cement companies

An announcement on Karan's appointment could come as soon as Friday, the people said. A representative for Adani Group declined to comment.

Stocks to Watch: Adani Ports, Tata Power, UPL, SBI, Tata Motors, Patanjali

Stocks to Watch: State Bank of India (SBI) has clarified that it has not been identified as a nodal bank for handling Russia-related rupee transactions

Ambuja Cements, Eicher Motors join Rs 1-trillion m-cap club

Ambuja Cements stood at 100th position in the overall m-cap ranking with Rs 1.05-trillion market cap. Eicher Motors' market cap, meanwhile, touched Rs 1.01 trillion in the intra-day day

Ambuja Cements up 3%, hits new high in a weak market on fund raising plan

The board of directors of Ambuja Cements is scheduled to meet on September 16, 2022 to consider and evaluate proposal for raising of funds

Stocks to Watch: Infosys, Bharat Forge, JSW Steel, IRCTC, Ambuja Cements

Stocks to Watch: JSW Steel has signed a memorandum of understanding (MoU) with SMS group, a German engineering and technology company, for exploring decarbonisation projects

Ambuja Cements hits new high ahead of closure of Adani Group's open offer

The stock has surged 17 per cent in a month ahead of the closure of Adani Group's open offer on Friday, September 9

Adani makes Rs 31K-cr open offer to buy 26% stake in ACC, Ambuja Cements

Adani group on Friday launched its Rs 31,000-crore open offer to acquire 26 per cent 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 announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 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 Ambuj