ACC, Ambuja jump 1% as Holcim deal heads towards closure

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Shares of ACC and Ambuja jumped over 1 percent each in intraday trade on Friday as the Ambuja-Holcim deal is heading towards closure.

Last evening, Ambuja Cements got shareholders' nod for the Holcim deal while the second phase of voting will be on November 23 during the EGM.

The Securities and Exchange Board of India (Sebi) had asked Ambuja to ensure that minority shareholders vote for both resolutions of the deal to go through. Nearly 72 percent of the minority shareholders participated in the ballot. Around 69 percent of the minority shareholder voted in favour of the deal.

About 87 percent of the public institutional shareholders casted their vote, with 67.95 percent of those participating voting in favour, 32.05 percent voting against. This indicates that FIIs voted in favour and DIIs led by LIC voted against the deal.

The participation by the retail investors was very thin. Only 10 percent of the retail shareholders participated, 88.17 percent of those polled voting in favour. The results of the minority shareholders will be presented at the court convened shareholder meet on November 23.

The company would require 75 percent of the shareholders to vote in favour of the special resolution.

At 11:32 hrs Ambuja Cements was quoting at Rs 172.40, up Rs 0.95, or 0.55 percent while ACC was quoting at Rs 1,040.05, up Rs 9.25, or 0.90 percent on the BSE.