Audit Committee verifies funds fully used as planned, no deviations reported
Ambuja Cements Limited, a key company under the Adani Group, has told stock exchanges that there were no changes or deviations in how it used the ₹15,000 crore raised through its preferential issue of equity shares (on conversion of warrants) last year.
The company submitted its Statement of Deviation/Variation to the BSE, NSE, and Luxembourg Stock Exchange, in line with Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The report, reviewed by the Audit Committee on November 3, 2025, was signed by Mr. Manish Mistry, Company Secretary & Compliance Officer.
How the Funds Were Used
Ambuja Cements raised a total of ₹15,000.046 crore in two phases:
- ₹6,660.946 crore on March 28, 2024 (Tranche 1)
- ₹8,339.099 crore on April 17, 2024 (Tranche 2)
By June 30, 2025, the company had already used ₹14,795.1 crore, mainly for:
- Capital and de-bottlenecking projects
- Expanding logistics infrastructure and digital systems
- Plant optimisation and ESG compliance
- Acquisitions, consolidation, and working capital
- Technology and general corporate purposes
Clean Governance Record
Ambuja Cements confirmed there were no unutilised funds, no changes in objectives, and no remarks from auditors or the Audit Committee.
This disclosure reflects the company’s strong commitment to transparency, accountability, and sound corporate governance as part of its growth under the Adani Group.