ACC promoter entity Ambuja Cements frees NDU on shares of company

After the release, the total promoter holding pledged with lenders now stands at 2.16 per cent from 52.21 per cent earlier

Ambuja Cements
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Informed sources say that while the NDU on the ACC shares had been released, the NDU on Ambuja shares still remained for now

Viveat Susan Pinto Mumbai
Adani group-owned ACC Cement on Wednesday said that its promoter entity, Ambuja Cements, had released the non-disposal undertaking (NDU) on shares of ACC. The company had created the NDU on over 93.9 million shares, or over a 50.05 per cent stake, in ACC in September.
 
To put things in perspective, ACC promoters hold a total of 56.68 per cent in the company, while 43.32 per cent is with public shareholders, the stock exchange data shows. Among promoter entities, Ambuja Cements holds a 50 per cent stake in ACC.
 
NDU is different from pledging of shares. Under NDU, one can sell

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First Published: Nov 23 2022 | 9:47 PM IST

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