Adani’s open offers for ACC, Ambuja gets modest response
Adani Group’s holding in Ambuja Cement will increase to 63.24% from 63.2%. Its stake along with Ambuja Cement’s holding in ACC will rise to 56.69% from 54.53%. Sebi rules require acquirers to make a mandatory offer to buy at least 26% stake from public shareholders if they buy 25% or more in a listed company. The rule aims to give minority investors an exit option during the buyout.
