India`s Adani Group-owned firm to sell stake worth $500 million in Ambuja Cements
![](https://portfolio.investmentguruindia.com/uploads/news/Adani3024.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
An Adani Group-owned company is selling shares worth $500 million in Ambuja Cements, according to a term sheet seen by Reuters on Thursday.
The holding company, Holderind Investments, is selling a 2.84% stake in the cement company on Friday, with the floor price of the sale set at 600 rupees per share.
The sale is at a 5% discount to Thursday's closing price of 631.8 rupees.
Adani Group had a 70.33% stake in Ambuja as of June 30, according to exchange data. Holderind's stake of 50.9% stake in the cement-maker makes up for a majority of Adani Group's shareholding in the company.
Billionaire Gautam Adani's flagship firm Adani Enterprises is likely to launch a $1 billion share sale by mid-September, Reuters reported earlier this month.
![](https://portfolio.investmentguruindia.com/uploads/news/aug23v72.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/aug23v29_f9db8bl.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/aug23v25_c0YkOht.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Foxconn23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Krishna Appala.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/aug23v2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmala2024.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/aug23v15_5D0ps03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/RBI 27 oct.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Amol Athawale.jpg)