Ambuja Cements and ACC stocks close much above the offer prices

The shares of Ambuja Cement closed at Rs 453 a share -- far above the open offer price of Rs 385 a share -- making the offer unattractive for its shareholders.

The Adani family’s open offers to acquire an additional 26 per cent stake in Ambuja Cements and ACC closed on Friday. The mandatory open offers in cash were made after the Adani family acquired a 63 per cent stake in Ambuja Cements from Swiss cement major, Holcim.

The final data of the number of shares tendered by the shareholders of both companies was still being collated by the bankers to the issue until the time of going to the press.

The shares of Ambuja Cement closed at Rs 453 a share -- far above the open offer price of Rs