New Delhi:
Adani Group company Ambuja Cement’s shares (Ambuja Cement Share Price) saw a tremendous rise today i.e. Friday, 23 August. In today’s trading, Ambuja Cement’s share has reached an intraday high level of Rs 660 with a gain of 4%. The increase in the company’s share prices has come at a time when shares worth Rs 4,197.8 crore have been sold by the promoters at the floor price.
Holderind Investment sold around 2.84% stake in Ambuja Cement
Adani Group chairman and billionaire businessman Gautam Adani and his family-owned Holderind Investments have sold about 2.84 percent stake in Ambuja Cement. The value of this deal is Rs 4,197.8 crore at the floor price.
The transaction is aimed at expanding the shareholder base and attracting long-term investors who wish to invest specifically in infrastructure assets. 6.99 crore shares have been sold by Holderind at the fixed floor price of Rs 600 per share, which is at a discount of about 5 per cent to the last closing price on NSE.
According to the information, the shares will be subject to a lock-up period of 60 days, which will not include transfer to any other promoter or members of the promoter group.
Ambuja Cement gave a return of 43 percent in the last 12 months
Ambuja Cement shares have given a return of 43 percent in the last 12 months and has given a return of about 22 percent since the beginning of this year.
Ambuja Cement will invest Rs 600 crore in Bihar
Earlier this month, Ambuja Cement announced an investment of Rs 1,600 crore to set up a 6 MTPA cement grinding unit in Bihar. The project will be completed in three phases. The first phase of 2.4 MTPA will have an investment of Rs 1,100 crore and will be completed by December 2025.
This project will generate a revenue of Rs 250 crore per year for the state government. At the same time, 250 direct and 1,000 indirect employment opportunities will be created in the state. This investment by Ambuja Cement is the largest investment ever made by any cement company in Bihar.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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