Adani Group is likely to make an open offer next week , or acquire an interest of 26% in the Swiss-based Holcim's Indian listed subsidiaries ACC and Ambuja Cements.
Image: Bloomberg
Gautum Adani will pay almost $31,000 crores as part of the offer open to all.
Cash offer was made to purchase 4,89,564,419 fully paid-up equity share with the face value of 10 rupees each, at a cost of Rs 2,300 per equity share which represents an interest of 26% in ACC.
Cash offer to purchase 51,63,52,655 equity shares with the face value of Rs 2 each, at a price of Rs 385 per equity share, which is 26% of the value is made to Ambuja Cement.
The cash offer is worth about Rs11,259.97 crore for ACC ACC as well as Rs19,879.57 lakh in the case of Ambuja Cement.
According to an PTI report The open offer is expected to begin on August 26 instead that was July 6. The open offer will conclude on September 9, 2022.
Endeavour Trade and Investment has offered an open bid. The company is owned through Acropolis Trade and Investment.
"
ICICI Securities and Deutsche Equities India are the administrators of open offers.
The worth of Holcim's stake, as well as open offer for consideration of Ambuja Cements and ACC is about $10.5 billion.
At present, Ambuja Cements and ACC have an installed production capacity of about 70 MTP. They are among the most reputable brands in India
IMAGE: ACCLIMITED
Additionally, Ambuja and ACC's combined footprint comprises 31 cement manufacturing facilities along with 78 ready-mix concrete plant that employ 10,700 people all over India.
THIS WAS THE WHOLE STORY ABOUT "Adani Buying ACC and AMBUJA for 31000 Crores"If you liked the Story you can watch more informative stories by clicking below