When is the open offer of Adani for ACC and Ambuja likely to open?

Adani group, which is buying the stake in ACC and Ambuja through a foreign owned entity in Mauritius, will start the open offer on 06th July. It will be making an open offer to buy out 26% additional stake in ACC and also in Ambuja Cements. Overall, the open offer will entail an outlay of $4 billion which approximately translates into Rs31,139 crore. This will make it the biggest open offer in Indian history.

Adani family has already acquired Holcim’s stake in Ambuja Cements and ACC as the latter wanted to exit the India business. The Adani total open offer size goes above the Rs29,220 crore open offer that Unilever of UK had made for Hindustan Unilever shares in the year 2013. Adani family will make open offer for 26% in Ambuja Cement and ACC. Effectively, they will get overall control of more than 70 MTPA of cement capacity, making them the second largest cement producer in India.