Sekhsaria-Holcim combine acquires 2 per cent more in ACC
08 Mar 2007
Kolkata: The Sekhsaria group-Holcim combine has raised its stake in ACC by over 2 per cent in the last fortnight through secondary market operations, according to a disclosure to the stock exchanges.
Ambuja Cement, the principal stakeholder in ACC Ltd, has raised its stake further through the creeping acquisition route to 37.07 per cent from 35.15 per cent. This has been achieved through market purchase of 36 lakh shares between February 14 and March 6.
Holderind Investments, the investment arm of the Swiss cement major Holcim, has also acquired for the first time the status of PAC with Ambuja Cement by mopping up 5.41 lakh ACC shares from the market, representing 0.29 per cent voting rights in ACC, during the same period.
Currently, Holderind Investment Ltd holds 16.51 per cent in GACL and the Sekhsaria family-controlled Ambuja Cement India Pvt Ltd holds around 10 per cent.