Team Blitz India
NEW DELHI: Billionaire Gautam Adani’s family has infused fresh capital of Rs 6,661 crore in Ambuja Cement to increase stake by 3.6% in the company to 66.7%. March 28’s announcement follows the infusion of Rs 5,000 crore by exercising the warrants approved by the board of the company in October 2022. The fund infusion will be instrumental in increasing the capacity to 140 million tonnes per annum by 2028.
“This shall also be instrumental in fuelling various strategic initiatives, including undertaking debottlenecking capex to enhance operational capabilities to ensure scalability as well as to bring 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,” Amubja said in a statement.
“This infusion of funds provides Ambuja capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength,” Ajay Kapur, Whole Time Director and CEO, Ambuja Cement, said.
