Adani Group to Sell Stake in Ambuja Cements

The Adani Group, led by billionaire Gautam Adani, is set to sell a 2.84% stake in Ambuja Cements, raising approximately Rs 4,200 crore through block deals at a floor price of Rs 600 each, representing a 5% discount to the previous closing price. This move will reduce the group's holding in Ambuja Cements from 70.33% to 67.5% and aligns with their strategy to rebalance a $125 billion portfolio and attract long-term sovereign fund investors. Concurrently, there are reports that Adani Power may also see a stake sale, although this has not been confirmed by the group. The stock prices of both Ambuja Cements and Adani Power have shown significant gains this year, reflecting investor confidence. The potential stake sale highlights the group's efforts to stabilize its financial position amidst looming debt repayments.