This brings the ports-to-power conglomerate’s total investment to Rs 20,000 crore in the cement maker.
The Adani group has raised its stake in Ambuja Cements to 70.3% from 66.7% by infusing an additional Rs 8,339 crore (~$997 million). This is the third tranche of fund infusion. In October 2022 and March this year, the Adani family had invested Rs 5,000 crore and Rs 6,661 crore, respectively.
This brings the port-to-power conglomerate’s total investment to Rs 20,000 crore in the cement maker.
With the government’s boost to infrastructure spending expected to continue after the results of the general elections are declared, the cement sector is rushing to increase production. The funds will be used to increase …
Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.
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