GQG Partners, alongside other investors, has acquired a substantial stake in Ambuja Cements, valued at approximately Rs 4,251 crore. This transaction involved the purchase of around 17.1 million shares through a block deal, marking a significant investment in one of India’s leading cement manufacturers. Prior to this deal, GQG held a 1.35% stake in Ambuja, which translates to over 3.33 crore shares.
The Adani Group, which currently maintains a 70.33% stake in Ambuja Cements, sold about 2.8% of its holdings in this pre-market block deal. The shares were sold at a floor price of Rs 600 each, which was a 5% discount to the previous day’s closing price of Rs 633. Following the announcement of this transaction, Ambuja’s stock saw a notable increase, reflecting investor confidence, as it rose by 4% to reach a high of Rs 659.70 before closing at Rs 635, up by 0.51% for the day.
This strategic move comes as Ambuja Cements continues to expand its market presence, recently announcing the acquisition of Hyderabad-based Penna Cement for Rs 10,422 crore, which is expected to enhance its capacity and market share in southern India
