Ambuja Cements to raise funds from Adani Group
Cement

Ambuja Cements to raise funds from Adani Group

All resolutions in Ambuja Cements' EGM, including those to raise Rs 200 billion from an Adani group company and appoint Gautam Adani and others to the board of directors, have been approved by shareholders.

With 91.37% of the vote, the Extraordinary General Meeting (EGM) approved the special resolution that sought to raise Rs 200 billion by issuing securities on a preferential basis to Harmonia Trade and Investment, a member of the Adani group.

The shareholders also adopted resolutions appointing four independent directors, two directors, and the chairman of the Adani Group, Gautam Adani, to the board of Ambuja Cements.

All special motions concerning the nomination of impartial directors, the revision of the Articles of Association (AoA), and the transfer of the company's registered office to Adani Corporate House in Ahmedabad were also passed by the shareholders.

Also read:
JSW Cement secures Rs 4 billion sustainability-linked loan
Swiss agency moots LC3 tech for cement industry


All resolutions in Ambuja Cements' EGM, including those to raise Rs 200 billion from an Adani group company and appoint Gautam Adani and others to the board of directors, have been approved by shareholders. With 91.37% of the vote, the Extraordinary General Meeting (EGM) approved the special resolution that sought to raise Rs 200 billion by issuing securities on a preferential basis to Harmonia Trade and Investment, a member of the Adani group. The shareholders also adopted resolutions appointing four independent directors, two directors, and the chairman of the Adani Group, Gautam Adani, to the board of Ambuja Cements. All special motions concerning the nomination of impartial directors, the revision of the Articles of Association (AoA), and the transfer of the company's registered office to Adani Corporate House in Ahmedabad were also passed by the shareholders. Also read: JSW Cement secures Rs 4 billion sustainability-linked loan Swiss agency moots LC3 tech for cement industry

Next Story
Real Estate

Rethinking Slum Development

In July 2024, the Supreme Court directed the Bombay High Court to initiate suo motu proceedings to evaluate the implementation of the Maharashtra Slum Area (Improvement, Clearance and Redevelopment) Act.During the ensuing proceedings, the Division Bench of Justices expressed concern about the plight of slum dwellers, saying, “Merely because you are a slum dweller doesn’t mean that you are left to the discretion of developers. They end up with a pittance.” The Bench also noted that the buildings allocated to slum dwellers were akin to “vertical slums”. “The buildings are congested. ..

Next Story
Real Estate

Ring in the New!

Lighting:OLED (organic light emitting diode) panels such as those by Philips are the latest option in soft lighting fixtures that can be embedded into walls, ceilings or furniture, says Nilesh Sawant, Principal Architect, Nilesh Sawant Architect. “Being thin and flexible, they lend themselves well to different applications while delivering the energy-efficiency associated with LED technology.”And Sapna Aggarwal, Founder, ANSA Architecture & Interiors, says “Embedded light-emitting diodes can create a dreamy illumination, while dimmable LEDs are useful for allowing..

Next Story
Infrastructure Urban

Jhansi Library

The Jhansi Library, commissioned by the Jhansi Development Authority (JDA) under the Jhansi Smart City initiative and built by Bootes Impex, a net-zero construction-tech company. It is the first library in Asia to achieve EDGE (Excellence in Design for Greater Efficiencies) certification from the International Finance Corporation (IFC), a member of the World Bank Group. This milestone marks the library as India’s first and only net-zero library, aligning  with India’s Net-Zero Vision 2070.Sustainable designDeepak Rai, Managing Director, Bootes Impex, explains, “The project's vision ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000