In early trading on Friday, August 23, the share price of Ambuja Cements increased by more than 4% on the BSE, after reports that promoters were selling stakes through a block deal. On Friday, the share price of Ambuja Cements opened at ₹654, up from its previous close of ₹632.90. It then increased by 4.23 per cent to ₹659.70.
The Adani Group planned to sell around 3% of its stake in Ambuja Cements on Friday to raise up to $500 million, or approximately ₹4,197 crore, through block agreements, according to media reports citing the transaction terms.
At the end of the June 2024 quarter, the Adani Group held a 70.33 per cent stake in Ambuja Cements, according to shareholding pattern data.
As of 10:10 am, Ambuja Cements shares were trading 1.08% higher at Rs 638.60 on the NSE.
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