Key Points
Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity...
With the latest investment, it has completed Rs 20,000 crore planned infusion, the company said in a statement..
"With this, promoters have further strengthened Ambuja post-acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives," the statement said..
"The additional investment will fortify the company's financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalise on emerging opportunities in the market," the statement said.. Besides helping in capacity expansion, the funds infusion would also enable various strategic initiatives, including debottlenecking capex, to enhance operational performance, as well as bringing efficiencies across resources and supply chain, Ambuja Cement said, adding that it shall also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector driven by the growth in the Indian economy..
"We are thrilled to announce the completion of the Adani family's primary infusion of Rs 20,000 crore in Ambuja," said Ajay Kapur, CEO of Ambuja Cements Ltd...
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