Adani Group has not pledged shares of Ambuja Cements and ACC Ltd

Chennai: The promoters of cement makers Ambuja Cement Ltd and ACC Ltd – Adani Group – have not pledged their shares in the two companies, the group said.

“We would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters,” a statement from Adani Group filed by ACC said.

“The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top-up under the acquisition financing raised last year,” the statement added.