Adani infuses Rs 8,339 crore into Ambuja Cements, raises stake to 70.3%
Last month, it infused Rs 6,661 crore into the cement company raising their stake in the company by 3.6 to 66.7 per cent.
Gautam Adani, Chairman, Adani Group has said the group’s market cap now stands at 260 billion dollars — having grown faster than any company ever in India.
In a speech made at an event to mark the completion of the ACC-Ambuja Cements acquisition on September 17, Adani said this acquisition is India’s largest ever inbound M&A transaction in the infrastructure and materials space and closed in a record time of four months.
“I also believe that the Adani Group’s competency in driving operational efficiency is second to none and we will benefit from the learnings of several acquisitions we have made over the past years. As a result, we expect significant margin expansion to become the most profitable cement manufacturer in the country. And we anticipate going from the current 70 million tons capacity to 140 million tons in the next 5 years,” Adani said.
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On the expanse of the Adani group, Gautam Adani said, “We are now the world’s largest solar power company and leading the greening of India. We are also leading the global green hydrogen story having committed 70 billion dollars to this business. We are the largest airport operator in the nation with 25 per cent of passenger traffic and 40 per cent of air cargo.”
“We are the largest Ports and Logistics company in India with 30 per cent national market share. We are India’s largest integrated energy player spanning generation, transmission, distribution, LNG, LPG, city gas and piped gas distribution. Each of these businesses is growing at double-digit rates. We have won some of the largest road contracts in the country and are well on our way to becoming the largest player in this sector. We had a grand IPO of Adani Wilmar — making us the highest valued FMCG company in the country,” Adani said.
“Our finances are stronger than ever before, and we continue to raise billions of dollars from international markets and strategic partners to further accelerate our growth. And of course — We are now the country’s second-largest cement manufacturer,” Adani said.
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