Ambuja Cements allots 477-million warrants to Adani family firm

Ambuja Cements on Tuesday said it issued 477.4 million warrants to Adani family firm Harmonia Trade and Investment and raised Rs 5,000 crore.

Ambuja Cement, now a part of Adani Cement, has issu­ed the warrants at a price band of Rs 418.87, it said.

The Rs 5,000-crore contribution by the Adani family firm, Ambuja Cement said, is 25 per cent of the limited issued price.

On October 8, shareholders of Amb­uja Cements in an EGM of the company had approved proposals, including the resolution to raise Rs 20,000 crore from the Adani family firm by issuing warrants.