Adani Group is preparing to sell stake in Ambuja Cement to raise funds. According to media reports, Adani Family Special Purpose Vehicles, promoters of Ambuja Cement, have sought permission from lenders to sell potential shares. Adani Group may sell 4.5% stake in Ambuja Cements. With this, Adani Group is preparing to raise Rs 3,000 crore. Adani Group can use this amount to pay off its debt.

Ambuja Cements was bought only last year
Adani Group had bought Holcim Group’s entire stake in Ambuja Cements and ACC in September last year. These deals were done by Adani Group for $10.5 billion. Holcim sold its 63.19% stake in Ambuja Cements Ltd and 54.53% in ACC to Adani Group.

GQG buys 3.4% stake in Adani Enterprises
Adani Group had reported that GQG has bought a 3.4% stake in Adani Enterprises Limited for $662 million (Rs 5,421 crore). Whereas GQG has acquired 4.1% of Adani Ports and Special Economic Zone Ltd for $640 million (Rs 5,240 crore), 2.5% of Adani Transmission Ltd for $230 million (Rs 1,883 crore) and Adani Green for $340 million (Rs 2,784 crore). Energy Ltd. has bought 3.5% stocks.

Adani Group repaid share-backed loan of Rs 7374 crore
Adani Group has prepaid a share-backed loan of Rs 7374 crore. The group has informed about this on Tuesday. The Adani Group is trying to win back investor confidence by allaying concerns over its credit profile.

The promoters of Adani Enterprises will release 3.1 crore shares or 4% stake, while the promoters of Adani Ports will release 15.5 crore shares or 11.8% stake, the group said. Promoters of Adani Green Energy and Adani Transmission will release 1.2% and 4.5% stake. Earlier in February, the group had pre-paid a loan of $1.11 billion.

5 out of 10 shares of Adani Group declined on Friday
On Friday i.e. March 10, 5 out of 10 shares of Adani Group saw a rise and only 5 saw a decline. Shares of Adani Enterprises, the flagship company of the group, fell more than 3%. NewsBust India fell 5.00%, Adani Wilmar 4.93%, Ambuja Cement 1.74% and ACC 0.81%. Adani Ports gained 0.25%. Shares of Adani Transmission, Power, Total Gas and Green Energy saw a gain of 5-5% each.