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Home / Business / Ambuja Cements calls for shareholders nod for Adani's appointment on board

Ambuja Cements calls for shareholders nod for Adani's appointment on board

The company during the meet is seeking an approval for preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd
In the EGM, Ambuja Cements will seek shareholders’ approval for the appointment of Gautam Adani and others on the board
In the EGM, Ambuja Cements will seek shareholders’ approval for the appointment of Gautam Adani and others on the board
Representational file image

PTI   |   New Delhi   |   Published 18.09.22, 01:59 AM

Ambuja Cements, which has been acquired by the Adani family, has called an extraordinary general meeting with its shareholders on October 8.

In the EGM, Ambuja Cements will seek shareholders’ approval for the appointment of Gautam Adani and others on the board and a Rs 20,000cash infusion in the company through preferential allotment of warrants.

Ambuja Cements has sought an approval for preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd, a promoter group entity, totalling 20,001 crore in one or more tranches.

The warrant holder would pay a minimum amount of Rs 104.72, around 25 per cent of the issue price at the time of subscription, and a further payment of Rs 314.15 at the time of exercise of the right to convert into equity shares.

Adani Power delisting

Adani Power on Saturday said its promoter entity AdaniProperties has withdrawn a proposal to delist the company due to non-receipt of in-principle approval of bourses.

The company in a regulatory filing stated that it has received a letter from a member of the promoter group seeking withdrawal of delisting offer.

“Adani Power has received a letter dated September 17from Adani Properties regarding the withdrawal of the delisting offer dated May 29, 2020,” a BSE filing said.

 



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