This follows investments of Rs 5,000 crore by the company's promoter on October 18, 2022, and Rs 6,66 crore on March 28 this year, taking the total investment in Ambuja Cements to Rs 20,000 crore after the acquisition.
The fund's investment will be instrumental in achieving a capacity addition of 14 million tonnes per annum (MTPA) by the cement vertical by 2028, the company said in a statement.
Ajay Kapoor, Whole-time Director and CEO, Ambuja Cements Limited, said, "This investment of the Fund provides Ambuja with capital flexibility to accelerate growth, capital management initiatives and best balance its strengths."
“This is not only a testament to the strong belief in our vision and business mode, but also reinforces our commitment to deliver long-term sustainable value creation to our stakeholders and it gives us new opportunities to accelerate our growth and continue operating Will inspire towards setting standards. Excellence, business synergy and cost leadership,” Kapoor said.
The additional investment will strengthen the company's financial position and provide it with enhanced capabilities to pursue its ambitious growth plans and take advantage of emerging opportunities in the market.
Additionally, it will also enable various strategic initiatives including reducing capital expenditure to enhance operational performance as well as bring efficiency in resources and supply chain, the company said.
Earlier this week, Ambuja Cements announced the purchase of 1.5 MTPA cement grinding unit of My Home Group in Tuticorin, Tamil Nadu for Rs 413.75 crore.
With this acquisition, Adani Group's total cement capacity reaches 78.9 MTPA.
Ambuja along with its subsidiaries ACC Limited and Sanghi Industries Limited has 18 integrated cement manufacturing plants and 19 cement grinding units across the country, taking the Adani Group's cement capacity to 78.9 MTPA.
The fund's investment will be instrumental in achieving a capacity addition of 14 million tonnes per annum (MTPA) by the cement vertical by 2028, the company said in a statement.
Ajay Kapoor, Whole-time Director and CEO, Ambuja Cements Limited, said, "This investment of the Fund provides Ambuja with capital flexibility to accelerate growth, capital management initiatives and best balance its strengths."
“This is not only a testament to the strong belief in our vision and business mode, but also reinforces our commitment to deliver long-term sustainable value creation to our stakeholders and it gives us new opportunities to accelerate our growth and continue operating Will inspire towards setting standards. Excellence, business synergy and cost leadership,” Kapoor said.
The additional investment will strengthen the company's financial position and provide it with enhanced capabilities to pursue its ambitious growth plans and take advantage of emerging opportunities in the market.
Additionally, it will also enable various strategic initiatives including reducing capital expenditure to enhance operational performance as well as bring efficiency in resources and supply chain, the company said.
Earlier this week, Ambuja Cements announced the purchase of 1.5 MTPA cement grinding unit of My Home Group in Tuticorin, Tamil Nadu for Rs 413.75 crore.
With this acquisition, Adani Group's total cement capacity reaches 78.9 MTPA.
Ambuja along with its subsidiaries ACC Limited and Sanghi Industries Limited has 18 integrated cement manufacturing plants and 19 cement grinding units across the country, taking the Adani Group's cement capacity to 78.9 MTPA.
