Adani group pledges entire stake worth $13 billion in Ambuja Cements, ACC
21st Sep 2022

Adani group has pledged its entire stake worth $13 billion in Ambuja Cements and ACC, days after completing its $6.5 billion acquisition of the two companies. Adani group has encumbered its 63.15 percent stake in Ambuja Cements and 56.7 percent stake in ACC (of which 50 percent is held by Ambuja) to the Hong Kong Branch of Deutsche Bank AG.

Adani has acquired Ambuja Cements and ACC through a Mauritius-based SPV Endeavour Trade and Investment (ETIL), which is owned by Xcent Trade and Investment (XTIL).

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business organisations.