Adanis to sell 2.8% stake in Ambuja for Rs 4,200 crore

Holderind Investments, an Adani group promoter entity, plans to offload nearly 7 crore shares of Ambuja Cements, representing 2.8% of its equity, to raise about Rs 4,200 crore via block deals. These shares are offered at a 5.2% discount on Thursday’s closing price. This sale will reduce the Adani group’s stake in Ambuja to 67.5%.