Adani Group launched Rs 31,000-crore open offer to acquire 26% additional stake
Adani Group launched its Rs 31,000-crore open offer to acquire 26% additional stake from the public shareholders of Swiss firm Holcim’s two Indian listed entities ACC and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim’s businesses in India for $10.5 billion.
Markets regulator Sebi granted approval for the open offer last week. The open offer is estimated at over Rs 31,000 crore if fully subscribed.
In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group’s Mauritius-based firm Endeavour Trade and Investment.