Ambuja Cements Ltd Share Price – NSE  /  BSE

Cement, Large Cap

Ambuja Cements will hold a meeting of the Board of Directors of the Company on 1 May 2024.

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Ambuja Cement has allotted 26,54,47,491 equity shares of the Company of face value of Rs. 2/- each, at a premium of Rs. 416.87/- per share, pursuant to the exercise and conversion of the remaining 265,447,491 convertible warrants (out of the 47,74,78,249 convertible warrants allotted) against receipt of the balance subscription amount of Rs. 314.1525/- per warrant (i.e. 75% of the issue price) to Harmonia Trade and Investment (Harmonia), a member of the promoter group.

With this conversion and allotment, entire 477,478,249 convertible warrants issued to Harmonia, stands converted into equity shares.

Post allotment of equity shares, the paid up equity share capital has increased to 2,463,123,478 equity shares of Rs 2 each. The promoter/ promoter group holding has increased to 70.29% from 66.70%.

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Ambuja Cements announced that the Adani family has fully subscribed to the warrants program in the Company by further infusing Rs 8,339 crore thereby infusing total amount of Rs 20,000 crore. Adani family have increased their stake in the Company by further 3.6% to 70.3%. This follows, the investment of Rs 5,000  crore on 18 October 2022 and Rs 6,661 crore on 28 March 2024, which was for part issuance of the shares.

The funds infusion will be instrumental to accomplish the capacity of 140 million tonnes per annum by 2028 by the cement vertical. Further, it shall also enable various strategic initiatives including debottlenecking capex to enhance operational performance, as well as bringing efficiencies across resources, supply chain. This shall also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector driven by the growth in the Indian economy.

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Ambuja Cements has signed definitive agreement to acquire My Home Group's 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. The total cement capacity of Adani Group stands at 78.9 MTPA.

The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infrastructure and equipment, ensuring that the best quality products are delivered.

This acquisition provides access to the southern market customers with an opportunity to experience and instil their trust in one of the most iconic and trusted brands - Ambuja Cement. Furthermore, the limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations.

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