Adani Founders Seek $500 Million From Cement Unit Share Sale
- Holderind Investments to sell 2.84% stake in Ambuja Cements
- Deal priced at 5% discount to Thursday’s closing price
A worker operates a forklift to unload sacks of cement.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
A firm owned by billionaire Gautam Adani and his family plans to sell $500 million of Ambuja Cements Ltd.’s shares.
Holderind Investments Ltd. will sell 69.96 million shares, or 2.84% stake in the cement maker, for 41.98 billion rupees, according to terms of the deal seen by Bloomberg. The offer price of 600 rupees apiece is at a 5% discount to Thursday’s closing.