After $10.5-bn deal, Adani makes open offer for Ambuja and ACC stake

On a combined basis, this would be among the largest open offers in the history of India's capital markets

A day after announcing a $10.5-billion (about Rs 81,000-crore) deal to acquire Holcim’s stake in Ambuja Cements and its subsidiary ACC, the Adani family on Monday made open offers to the public shareholders of the two companies which would cost the conglomerate Rs 31,139 crore.

In a notice to the stock exchanges, ICICI Securities and Deutsche Equities India, the joint managers to the open offers, said that Holderfin BV, a company incorporated in the Netherlands, was selling its entire stake in HolderInd Investments, a Mauritius-based firm which owns stakes in Ambuja Cements and ACC. Ambuja, in turn, owns 50 per cent