Adani makes an open offer for 26 percent of Ambuja Cements and ACC, respectively.

Adani Group made open bid to purchase 26 per cent stake each in Ambuja Cements and ACC Ltd . The offer is for ACC to acquire up to 4.89 crore shares held by public shareholders .

After announcing a $10.5-billion contract to, Adani Group made an open bid to purchase a 26 per cent stake each in Ambuja Cements and ACC Ltd from public shareholders on Monday.The group made an open bid for Ambuja Cements Ltd at Rs 385 per share and Rs 2,300 per share for ACC Ltd at its Mauritius-based subsidiary Endeavour Trade and Investment.The offer is for ACC to acquire up to 4.89 crore shares held by public shareholders, or 26% of the expanded stock capital, totaling Rs 11,259.97 crore.Adani group confirmed that the open offer had been launched after Adani group and Holcim signed a share purchase agreement to purchase a majority stake in the latter's India market.