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HomeNewsAmbuja Cements allots 477-million warrants to Adani family firm

Ambuja Cements allots 477-million warrants to Adani family firm

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Ambuja Cements on Tuesday said it issued 477.4 million warrants to Adani family firm Harmonia Trade and Investment and raised Rs 5,000 crore.


Ambuja Cement, now a part of Adani Cement, has issu­ed the warrants at a price band of Rs 418.87, it said.


The Rs 5,000-crore contribution by the Adani family firm, said, is 25 per cent of the limited issued price.


On October 8, shareholders of Amb­uja Cements in an EGM of the company had approved proposals, including the resolution to raise Rs 20,000 crore from the Adani family firm by issuing warrants.

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