Home / Science / News /  Adani Group's open offer to launch from July 6-19: ACC
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Cement producer ACC on Thursday announced that Adani Group's open offer will open on Wednesday, July 6, 2022 and conclude on Tuesday, July 19, 2022. Shares of ACC were trading 0.4% lower at 2,177 apiece on the BSE in opening deals.

The open offer is for the acquisition of up to 4,89,56,419 fully paid-up equity shares of face value of 10 each of ACC Limited (target company) from the public shareholders of the target company.

The Gautam Adani-led Adani Group agreed to buy Swiss building materials maker Holcim Ltd’s India assets Ambuja Cements and ACC Ltd for $10.5 billion ( 80,000 crore). Adani Group said the firms were a good fit given its ports and logistics, energy and real estate businesses.

The Adani family, through an offshore special purpose vehicle, agreed to acquire 63.19% of Ambuja Cements and 54.53% of ACC. The deal is likely to close in second half of CY22.

The Adani Group had said it will make an open offer to buy a 26% stake each in its two listed firms – Ambuja Cements and ACC Ltd – from public shareholders, through its Mauritius-based subsidiary Endeavour Trade and Investment has made an open offer at 385 per share for Ambuja and 2,300 per share for ACC.

Ambuja and ACC have a combined capacity to produce at least 70 million tonnes of cement annually, second to UltraTech Cement which has 120 million tonnes capacity.


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