Adani Promoter Arm Holderind Investments To Sell 2.84% In Ambuja Cement
The Group portfolio management—Holderind Investments—will sell approximately 6.99 crore shares, which is a 2.84% stake in Ambuja Cements.
Holderind Investments Ltd., a company owned by billionaire Gautam Adani and his family, plans to divest $500 million worth of shares or 2.84% stake in Ambuja Cements Ltd. The value of the deal is Rs 4197.8 crore at the floor price according to the terms of deal viewed by NDTV Profit.
The transaction is part of a strategic group portfolio management move aimed at diversifying the shareholder base and attracting long-only investors, particularly those interested in infrastructure assets.
The Group portfolio management—Holderind Investments—will sell approximately 6.99 crore shares, which is a 2.84% stake in Ambuja Cements. The floor price is set at Rs 600 per share, reflecting a 5% discount to the last close price on the NSE.
The shares will be subject to a 60-day lock-up period, excluding transfers to another promoter or promoter group members, with the lock-up continuing in the hands of the transferee.
A 25 basis points commission will be charged to the buyer, with additional normal market charges applicable.
Offer Timeline:
Books Open Date: Aug. 22.
Books Close Date: Aug. 23, at 7:30 AM, with an option for earlier closure.
Expected Trade Date: Aug.23.
Expected Settlement Date: Aug. 26.
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