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Gautam Adani, family raise stake in Ambuja with $800 mn infusion

VCCircle · 1y

Gautam Adani and his family have invested $799 million in Ambuja Cements, increasing their stake in the company to around 67%. The investment will help Ambuja Cements expand its manufacturing capacity, with a target of reaching 140 million tonnes per annum by 2028. The infusion of funds provides Ambuja Cements with capital flexibility for accelerated growth and capital management initiatives. This investment comes after Adani Group's acquisition of Ambuja Cements and ACC from Holcim in 2022 for $10.5 billion.