Gautam Adani's group pledges stake worth $13 billion in ACC, Ambuja Cements1 min read . Updated: 20 Sep 2022, 05:16 PM IST
- Stakes in two of those companies -- about 57% of ACC Ltd and 63% in Ambuja Cements Ltd -- have been encumbered ‘for the benefit of certain lenders and other finance parties’
Billionaire Gautam Adani’s group pledged shares valued at about $13 billion in two Indian cement firms just days after it completed the acquisition from Holcim Ltd., reflecting the world’s second-richest person’s hunger for capital as his ports-to-power conglomerate expands rapidly.
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