Home National Gautam Adani, even Tata could not manage the company that would save...

Gautam Adani, even Tata could not manage the company that would save him now Adani’s next generation – Adani Group was once partly owned by Tata Group to take over Karan Adani as CEO of acc ThePipaNews

ThePipaNews

New Delhi: Gautam Adani, the richest man in Asia and India, has bought the entire stake in ACC’s Ambuja Cements and Holcim. The deal was done for about $6.4 billion. As a result, Adani Group became the second largest cement producer in the country within a short span of time. Gautam Adani is now chairman of Ambuja Cement and has handed over the reins of ACC to his elder son Karan Adani.

The Tata group also once owned a stake in ACC, but sold its stake to Ambuja Cement in 1999. Interestingly, the Adani Group has recently overtaken the Tata Group to become the country’s most valuable business conglomerate. ACC’s income is Tk 16,151 crore. And now Karan Adani will head the company at a time when the cement sector is expected to see huge ups and downs. At present Aditya Birla Group’s Ultratech Cement is the largest cement manufacturing company in the country.

Garuda Bharari in the list of the rich; Adani gave Leka a big responsibility; Birla will face the group
But with the entry of the Adani Group into the cement sector, stiffer competition is likely. Adani Group aims to become the largest cement company in the country by 2030. In such a situation, Adani Group may take over many more small companies in the future.

The Tatas sold the stake
Karan, 35, is believed to have played a key role in the acquisition of Adani Ambuja Cements and ACC. Currently, he is the CEO of Adani Port and entrusted with the maintenance of ACC, a company now 86 years old. Corporate leaders like Nani Palkiwala and Pallonji Mistry have taken charge of the ACC. It was founded in 1936 by ten cement companies. The Tatas once had a stake in it, but sold their stake to Ambuja Cement in 1999.

Adani Group in Debt Trap; The second richest man in the world, see how much debt he has
Ambuja Cement owns 54.5 percent of ACC. The Adani family intends to invest an additional Rs 20,000 crore in Ambuja Cement through convertible warrants. Adani Group currently holds 63.11 percent stake in it.

Gautam Adani’s next target is Elon Musk! How many billions away from being super rich?
Who is Karan Adani?
After graduating from Purdue University with a degree in Economics, Karan began his corporate career with Adani Mundra Port. Today, he is responsible for the strategic development of the Adani Group and oversees the day-to-day operations of the group’s many businesses. He worked under the guidance of Adani senior and family confidant Malaya Mahadevi. Karan is married to Cyril Amarchand Mangalas’ partner and Cyril Shroff’s Mulligi Paridhi.

RELATED ARTICLES

Shiv Sena leader Bhaskar Yadav slams Ramdas Kadam Vedanta Foxconn SA 97 ThePipaNews

ThePipaNews The Foxconn project, built in partnership with the Vedanta Group, will be held in Gujarat. Since then political complaints are being raised...

Increase in match fee and monthly stipend for domestic cricketers ThePipaNews

ThePipaNews LAHORE: (Web Desk) Pakistan Cricket Board (PCB)...

New Delhi: Sonia Gandhi clashed with Nitish Kumar, Laluprasad Yadav ThePipaNews

ThePipaNews New Delhi; Leading News Service: After the election of the Congress president, the campaign to strengthen the opposition...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

The Erik ten Hag verdict is right in the middle of Cristiano Ronaldo’s surprising training schedule ThePipaNews

ThePipaNews Erik ten Hag insisted earlier this month that Cristiano Ronaldo was "fully engaged" project at Manchester United, and the Portuguese forward has backed...

Shiv Sena leader Bhaskar Yadav slams Ramdas Kadam Vedanta Foxconn SA 97 ThePipaNews

ThePipaNews The Foxconn project, built in partnership with the Vedanta Group, will be held in Gujarat. Since then political complaints are being raised...

Increase in match fee and monthly stipend for domestic cricketers ThePipaNews

ThePipaNews LAHORE: (Web Desk) Pakistan Cricket Board (PCB)...

The release date for Netflix’s The Crown season 5 has been confirmed ThePipaNews

ThePipaNews Netflix has finally confirmed when season five of The Crown will be released on the...

New Delhi: Sonia Gandhi clashed with Nitish Kumar, Laluprasad Yadav ThePipaNews

ThePipaNews New Delhi; Leading News Service: After the election of the Congress president, the campaign to strengthen the opposition...

Recent Comments