News > Adani Group gets Sebi approval for $3.8 billion open offer

Adani Group gets Sebi approval for $3.8 billion open offer

Adani Group has received approval and makes open offer to buy two cement makers Adani Group has received regulatory approval for an almost 311.6 billion rupees ($3.9 billion) open offer to buy the remaining shares of two Indian cement makers.

The group, led by Asia's richest person Gautam Adani, has offered to buy 26 per cent of Ambuja Cements Ltd. for Rs 385 per share and the same stake for Rs 2,300 per share of ACC Ltd.