Adani Group-owned Ambuja Cements has completed the acquisition of 37.8 per cent promoters’ stake of CK Birla group firm Orient Cement Ltd (OCL) and has become a promoter.
With this, the total shareholding of Ambuja Cements in OCL has gone up to 46.66 per cent, as it has also acquired 1.82 crore share representing 8.87 per cent from public shareholders of OCL.
“Ambuja has completed the acquisition of 7,76,49,413 equity shares (representing 37.79 per cent of equity share capital) of the company from the promoter group,” said a regulatory filing from OCL.
Pursuant to the acquisitions from the promoter group and public shareholders, Ambuja has acquired sole control of OCL and has become the promoter of the company, it added.
Last October, Ambuja Cements had announced to acquire OCL at a valuation of ₹8,100 crore as part of its expansion drive.
Stock market today: On Wednesday, 81 stocks hit their 52-week high, HDFC Bank, Bharti Hexacom, UPL, AAVAS Financiers, AstraZeneca Pharma…
Ather Energy IPO: Ather Energy is poised to end the two and a half month pause in the primary market…
Stock market today: Indian stock market benchmarks extended their winning streak for a seventh straight session on Wednesday, April 23,…
The BP logo is displayed outside a petrol station that also offers electric vehicle recharging, on Feb. 27, 2025, in…
Foreign Portfolio Investors (FPIs) maintained a cautious approach towards Indian equities in the first half of April 2025, offloading a…