• The company has been incorporated by Ambuja Cements for the business of operating ships, the company said in a regulatory filing.
Ambuja Cements announced on January 4 that the company has incorporated a wholly owned subsidiary by the name of Ambuja Shipping Services Limited (ASSL) with effect from January 3, 2023.
The company has been incorporated by Ambuja Cements for the business of operating ships, the company said in a regulatory filing. The company has acquired 100% shareholding and the cost of acquisition is ₹1 crore.
ASSL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on January 3, 2023 and has not yet commenced its business operations.
Earlier in September, Gautam Adani had pledged his entire stake in Ambuja Cements Ltd and ACC Ltd, worth $12.5 billion, to foreign banks to enable his family's $6.5 billion acquisition of the two cement makers.
Shares of Ambuja Cements were trading flat at ₹527, down 0.74 per cent, on the NSE.
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