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News GQG Partners enlarges stake in Ambuja Cements to 2.4%

GQG Partners enlarges stake in Ambuja Cements to 2.4%

Written by Global Cement staff 27 August 2024
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India: Ambuja Cements’ minority shareholder GQG Partners has increased its stake in the company from 1.4% to 2.4%. The value of the newly acquired shares was US$200m, the New Indian Express newspaper has reported. Other recent investors in the company, following a divestment of 2.8% of shares by its parent, Adani Group, include the Indian National Pension System Trust and SBI Life Insurance. They bought total shares worth US$62.6m and US$59.6m respectively. Following the deals, majority shareholder Adani Group now holds an 67% stake in Ambuja Cements.

Last modified on 28 August 2024
Published in Global Cement News
Tagged under
  • Ambuja Cements
  • India
  • Adani Group
  • Adani Cement
  • Stake
  • Shares
  • GQG Partners
  • National Pension System Trust
  • State Bank of India
  • SBI Life Insurance
  • GCW674
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