Adani pledged his entire stakes in Ambuja Cements and ACC woth Rs. 96800 Crores with Foreign Bank Deutsche Bank, Hong Kong branch.
After the deal with Holcim Adani was holding 63.2% in Ambuja Cement and 56.7% stakes in ACC which he preferred to pledge for raising funds.
Aditya Birla Group's Ultratech Cement is No.1 Cement company of India with 30.2% Market share in Indian Cement Sector.ACC-Ambuja makes 18% market share the Second to the Ultratech cement
Adani is planning to infuse more Rs. 20K Crores to increase the cement production company by double till 2027 and make the combined entity number 1 in the Cement Sector
Research Firm Credit-Insights in its recent report has already showed concerns about 'Deep Overleveraging' in the Adani Group but softened it's tone later saying it is manageable,
By pledging newly bought stakes completely Adani surprised the Dalal Steet. Both ACC and Ambuja stocks were on backfoot today on 21st Sept 2021
Investors in Adani Group stocks (including ACC and Ambuja cements) are cautioned to beextra-careful while taking any positions in them