Disturbed by the tremors of Hindenburg, the Adani group is constantly trying hard to clear its debt. Adani Group, which sold its stake in four companies this month, is once again preparing to sell its stake. The company can also use this amount to pay off its debts.
According to media reports, the Adani group is going to sell the recently acquired stake in Ambuja Cement. Adani Family Special Purpose Vehicles, promoters of Ambuja Cement, has sought permission for share sale. According to the news, 4.5 percent stake in Ambuja Cements can be sold. The value of this stake could be around $450 million.
Adani Group had bought the entire stake of Ambuja Cements and ACC, two Indian companies of Holcim Group, in 2023. The deal was worth around $10.5 billion. Holcim sold its 63.19% stake in Ambuja Cements Ltd and 54.53% in ACC to Adani Group. The Adani Group had bought Ambuja Cements and ACC through Holderind Investments Limited and Endeavor Trade and Investment Limited special purpose vehicles. HolderInd holds 63.18 per cent stake in Ambuja Cements. And Endeavor has 0.04 per cent stake. The promoter holds a total stake of 63.22 per cent.
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