Adani-Holcim deal: LIC may exit Ambuja Cements, ACC via open offer
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Life Insurance Corporation (LIC) of India, which owns Ambuja Cements and ACC shares worth Rs 7,000 crore, may tender its shares in the open offers to be launched by the Adani family, which acquired Ambuja Cements for $10.5 billion (Rs 81,400 crore approximately) on Sunday. Adani is making an open offer for Ambuja Cements at Rs 375 per share and Rs 2,300 per share for ACC.
Ambuja shares closed at Rs 368 on Tuesday, while ACC shares closed at Rs 2,226 per share. The dates of the open offers have not been announced yet. LIC has made a sizeable gain in Ambuja and ACC shares in the …
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First Published: Wed, May 18 2022. 06:10 IST
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