Construction Industry News
Adani Group launched its open offer of Rs 31,000 crore to acquire an additional 26% stake from the public shareholders of the two Indian listed entities ACC and Ambuja Cements of Swiss firm Holcim. In May of this year, the Adani Group had announced that it had entered into a deal to acquire a controlling stake in Holcim's operations in India for $10.5 billion.
Market regulator Sebi approved the open offer last week. The open offering is estimated to be over Rs 31,000 crore when fully subscribed.
In two separate registration applications, Ambuja Cements and ACC have submitted their offer letter for the open offer launched by the Adani family group's Mauritius-based company Endeavor Trade and Investment.
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