Promoters of Adani Group have sold around 2.8 per cent of their stake in Ambuja Cements to investors including GQG Partners for Rs 4,250 crore through an open market transaction. The promoters have sold their stake in Ambuja Cements as part of their regular adjustment to maintain their stake in Adani Group at the desired level.
deal worth so many crores of rupees
Meanwhile, Rajiv Jain-backed GQG Partners bought over 4.39 crore shares (1.78 per cent stake) in Ambuja Cements through bulk deals in two separate transactions. The shares were bought at an average price of Rs 625.50 per share, taking the combined transaction value to Rs 2,746.79 crore.
Following the deal, Fort Lauderdale-based asset management firm GQG Partners’ stake in Ambuja Cements rose from 1.35 per cent to 3.13 per cent. As per data available with the National Stock Exchange (NSE), Ambuja Cements’ promoters Holderind Investments Limited have sold 6.79 million shares (2.8 per cent stake). The shares were sold at an average price of Rs 625.50 per share, taking the transaction value to Rs 4,250.64 crore.
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The stakes were greatly reduced after the deal.
Following the deal, Holderend Investments’ stake in Ambuja Cements has been reduced from 50.90 per cent to 48.1 per cent. Also, the combined promoters’ stake in Ambuja Cements has been reduced from 70.33 per cent to 67.53 per cent. The promoters’ group led by billionaire Gautam Adani owns shares worth $125 billion in the group’s 10 listed companies.
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I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
