Ambuja Cement raises Rs 5,000 crore with Adani's family firm

Ambuja Cement has issued 47.74 crore warrants at a price band of 418.87.

Adani group family has contributed the transaction aggregated to ₹5,000.15 crore.

The face value of the warrants issued to the Adani group firm on a priority issue basis is Rs.2.

Ambuja Cement's shareholders had issued warrants at the company's EGM on October 8.

They also approved the Adani family company's proposal to raise Rs 20,000 crore by

appointing Gautam Adani and directors to the company's board.

Now, Gautam Adani is the Chairman of the board of Ambuja Cements.