Adani Group is pumping in an additional Rs 8,339 in Ambuja Cement

The Adani Group promoter family has invested an additional Rs 8,339 crore ($1.1 billion) in Ambuja Cements, taking its total investment to Rs 20 billion ($2.7 billion). The investment will be used to expand Ambuja Cements' annual production capacity to 140 million tons by 2028, doubling its current capacity.

The promoters have increased their stake in Ambuja Cements from 63.2% to 70.3%, signaling further Monotheism. For the company after the acquisition, paving the way for accelerated growth and achieving strategic goals. Capital is increased by issuing company orders. This follows earlier investments of Rs 5,000 crore in 2022 and Rs 6,661 crore in March this year, underscoring the promoters' commitment to the company's growth.

The funds raised will be used to increase capacity and ease production bottlenecks. This will lead to improved efficiency across the resources and supply chain in the cement sector. This investment aims to enhance future prospects and work on emerging opportunities. Barclays Bank PLC, MUFG Bank, Mizuho Bank and Standard Chartered Bank were the advisors on the deal.

Ambuja Cements announced the purchase of a 1.5 million tons per annum cement grinding unit in Tuticorin for My House. The group, bringing the total production capacity of the Adani Cement Group to about 79 million tons. This step comes after the Adani Group's major entry into the cement sector in 2022, when it purchased Ambuja and ACC from the Swiss giant Holcim.