INSUBCONTINENT EXCLUSIVE:
4 min read Last Updated Aug 22 2024 | 11:45 PM IST
The billionaire Adani family is planning to sell around 3 per cent of their stake in
The family currently owns 70.33 per cent stake in Ambuja Cements, which they acquired from Swiss materials firm Holcim in May
(including unlisted companies), accelerate investments across group companies and induct long-term sovereign fund investors, who are looking
deals.
As regards Adani Power, reports said that the family, which owns 71.71 per cent stake in the electricity generation firm, may
Rs 674 a share, the shares of Ambuja Cements are up 21.5 per cent to close at Rs 632 a share on Thursday.
In the recent past, several
with the most recent example being Adani Energy Solutions QIP (qualified institutional placement) where the entire green shoe option was
exercised as demand was high, the source said.
The family wants to accelerate investments across group companies as they are in
expansion mode with plans to invest $100 billion in the next decade
Hence, such portfolio balancing and churning will keep happening, the source said
The group will be investing $21 billion in the airport business and plans to list the business by FY28
The airport company is currently housed under Adani Enterprises Limited (AEL).
The above fundraise by the family is separate from the
share sale via QIP planned by group flagship AEL to raise Rs 16,790 crore ($2 billion) in September.
During roadshows in the last few
Early this month, Adani group company Adani Energy Solutions (AESL), an electricity transmission firm, successfully raised Rs 8,373 crore
its new projects as it expands capacity across its portfolio companies
group recently shared June quarter financial performance of its listed companies and announced an Ebitda surge of 32.87 per cent
year-on-year (Y-o-Y) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) Ebitda of Rs 79,180 crore, marking a 45.13 per
cent increase over the corresponding TTM of the previous year
in this growth, with Ebitda expanding by 70 per cent on a Y-o-Y basis.First Published: Aug 22 2024 | 8:32 PMIST
