Adani group gets approval for open offer

Adani group gets approval for open offer

The Adani Group has received approval from SEBI for an open offer for Ambuja Cements and ACC.

Adani Group has offered to purchase ACC and Ambuja shares at a price Rs 2,300 per share and Rs 385 per share respectively.

Back in May, Adani group had announced a $10.5 billion deal to acquire Ambuja Cements and ACC.

The deal involved buying the stake of Switzerland based Holcim and a $3.5 billion open offer.

As per media reports, if successful, this could be the largest open offer in Indian stock markets' history.

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