Ambuja Cements, now controlled by billionaire Gautam Adani-led Adani Group, on Wednesday said it has pledged 50.5 per cent shareholding in its subsidiary ACC Ltd as "collateral for loans taken by the company".
Soon after the acquisition, the Adani group pledged shares worth US$13bn (billion) in ACC Ltd and Ambuja Cement Ltd, which it bought from Switzerland-based Holcim Ltd.
Adani Encumbers $13 Billion Stake in Newly Bought Cement Units newsindiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsindiatimes.com Daily Mail and Mail on Sunday newspapers.