Adani Group signs non-dealing pact with foreign banks on cement stake

Adani stake is worth Rs 1.01 trillion as of Tuesday

Adani Group has signed a non-dealing undertaking with the foreign banks on its entire stakes in Ambuja Cements and ACC for raising funds to acquire the two cement companies, the stock exchanges were informed on Tuesday.

After acquisition, the group holds 63.15 per cent in Ambuja Cements and 56.69 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements).

Ambuja market capitalisation was worth Rs 1.13 trillion as on Tuesday with the Adani stake valued at Rs 71,988 crore.

The NDU stake of 57 per cent in ACC is valued at Rs 29,175 crore while for