The Adani Group, which emerged as a major player in the Indian cement industry after acquiring Ambuja Cement in 2022, is contemplating a strategic divestment of a portion of its holdings. Sources close to the company indicate that the group’s promoters are planning to sell 3% of their shares in Ambuja Cement, translating to roughly 7 crore shares with an estimated value of $500 million.
This move is primarily viewed as a way for the Adani Group to optimize its investment portfolio and potentially secure capital for future ventures. The offering price for the shares is set at ₹600 each, representing a 5% discount compared to Ambuja Cement’s closing price on Thursday. Importantly, reports suggest that the sale isn’t driven by any immediate need to reduce debt.
This development unfolds against the backdrop of the Adani Group’s remarkable growth trajectory. The acquisition of Ambuja Cement played a pivotal role in propelling the group to the position of India’s second-largest cement manufacturer. By divesting a portion of its stake, the Adani Group aims to increase Ambuja Cement’s public float, which could attract a broader base of investors and further bolster the company’s position in the market. The sale is also likely to unlock liquidity for the Adani Group, which it can then strategically deploy in new ventures or acquisitions, aligning with its ambitious expansion plans.
