Gautam Adani clarifies on Ambuja and ACC shares
Thiruvananthapuram/UNI: Adani Group has issued a clarification on misleading news on pledge of shares of Ambuja Cement Ltd and ACC Ltd.
"We have come across reports from various market sources with respect to Ambuja and our subsidiary ACC Ltd (ACC) claiming that shares of both Ambuja and ACC are pledged by promoters as a part of the acquisition financing," the company said in a statement here on Friday.
"Consequently, there are market rumours that amid market volatility, there is a requirement to meet the top-up triggers where there is selling pressure," it said.
"We would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters."
The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top-up under the acquisition financing raised last year, the statement added.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Narendra Modi praises Donald Trump as Hamas agrees to release Israeli hostages
PM Modi to unveil ₹62,000 crore youth-centric initiatives tomorrow; big push for education, jobs
'Will erase from map if terror continues': Army Chief’s stern warning to Pakistan
'Accept by Sunday 6 pm or all hell will break loose': Donald Trump issues ultimatum to Hamas
