- The Company was Incorporated on 20th October, as Ambuja Cements Pvt.
Ltd. It was jointly promoted by Gujarat Industrial Investment
Corporation Ltd. (GIIC) and N.S. Sekhsaria and his associates, Vinod K.
Neotia and Suresh Mulani, for setting up a cement project in the joint
sector. The Company was converted into a public limited company on
19th March, 1983 and its name was changed to Gujarat Ambuja Cements,
Ltd., on 19th May, 1983.
- The Company's object is to manufacture cement.
- The Company adopted the latest dry process precalcination technology
incorporating five stage preheater for the main pyro processing system
of the cement plant. For grinding the raw material, the Company
undertook to instal the latest air swept roller mills of polysius
design which were extremely energy efficient.
- A computerised process control system with field instruments supplied
by Larsen & Tourbo was also being installed to give consistently high
quality cement with maximum productivity.
- In addition, electronic packing machines were being obtained from
Haver & Boecker, West Germany, and reverse air baghouse equipment from
Zurn Industries, USA.
- The company entered into an agreement with Krupp Polysius AG, (KP)
West Germany, for supply of plant, equipment and service for the
project, KP agreed to supply raw material and coal grinding vertical
roller mills, homogenising and kiln feed, burning, cooling and coal
firing equipment and pneumatic transport pumps.
- KP have a collaboration agreement with Buckau Wolf India, Ltd. who
are supplying the balance items of the main plant as per KP design.
The scope of the agreement with KP provides for complete engineering of
the plant, technical documentation and information and supervision of
erection and commissioning of the project.
- All shares subscribed for by signatories to the Memorandum of
Association, promoters, etc.
- A letter of intent was received to increase the installed capacity
from 7,00,000 tonnes to 14,00,000 tonnes per annum.
- 146,44,500 No. of equity shares issued at par out of which the
following shares were reserved for firm allotment: 38,24,448 shares to
GIIC; 21,20,000 shares to overseas companies of non-resident Indian
promoters on repatriation basis and 15,50,052 shares to N.S. Sekhsaria,
Vinod K. Neotia and their associates.
- Out of the balance 71,50,000 shares, 28,60,000 shares to non-resident
Indians with repatriation rights and 8,75,500 shares to employees
(including Indian working directors)/workers and business associates of
the Company were reserved for preferential allotment. The remaining
34,14,500 shares were offered for public subscription during November.
Out of the oversubscription, 33,50,000 shares were retained and
allotted to the public.
- 20,00,000 No. of equity shares issued at par of which 2,00,000 shares
allotted to private promoters and their associates and the balance of
18,00,000 shares offered and allotted to the equity shareholders as
rights in prop. 1:1.
- Production declined marginally to 8,02,301 tonnes due to heavy rains
in July-August 1989 coupled with flash floods on 16th July.
- The 12.6 MW diesel generating sets which were imported during 1988-89
were commissioned during the year.
- Necessary approvals were received for setting up another cement plant
with 1 million tonne capacity per annum at village Suli, Tehsil Arki,
District Solan of Himachal Pradesh.
- In order to meet long-term working capital requirements, the Company
issued 10,00,000 - 17.5% secured redeemable non-convertible debentures
on private placement basis. These debentures would be redeemed in
three equal annual instalments commencing at the end of the 6th year
from the date of issue of the debentures, at a prem. of 5% of the face
value of the debentures.
- In order to part finance its expansion projects, the Company proposed
to issue 52,62,500 No. of equity shares of Rs.10 each at a prem. of
Rs.190 per share. Out of the total issue, 50,00,000 shares were to be
offered to the existing equity shareholders of the Company as rights in
the prop. of 1:4 and the balance of 2,62,500 shares were to be offered
to the employees, directors and the business associates of the company.
- In order to part finance its expansion projects, the Company also
proposed to issue 52,62,500 - 17.5% secured redeemable non-convertible
debentures aggregating to Rs.210.50 crores. Out of the total issue,
50,00,000 debentures were to be offered to the equity shareholders of
the Company on rights basis in the prop. of 1 debenture for every 4
equity shares held and the balance of 2,62,500 debentures were to be
offered to the employees, directors and business associates of the
- Each non-convertible debenture would be attached with a detachable
warrant and the holder of one such warrant would be entitled to apply
for and be allotted one equity share of the Company at a price of
Rs.300 per equity share (Rs.10 towards face value and Rs.290 as prem.).
- The warrant holders at the time of exercising their right/option to
subscribe for their equity shares entitlement would have further option
either to pay a price of Rs.300 per share of the Company or to
surrender the equivalent number of debentures as subscription for
allotment of equity shares.
- GACL Finance Ltd., Concrete Investments, Ltd., and Indo Nippon
Special Cements, Ltd. are the subsidiaries of the company.
- The Company undertook bulk cement transportation, by sea, to the
major markets of Mumbai, Surat and other deficit zones on the West
Coast. Transportation was to be carried out by three specially
designed ships. The units bulk terminal at Kodinar and one at New
Mumbai was completed and work on the third terminal near Surat began.
- 51,60,165 rights equity shares allotted at a prem. of Rs.190 per
share (49,66,815 shares, prop. 1:4; 90,850 shares to employees and
1,02,500 shares to Associates); 1,10,281 shares of Rs.10 each allotted
at a prem. of Rs.215 per share on exercise of warrants by warrant
- The Company's muller location 1.5 million tonne cement project with
clinkeriation facility at site in H.P and grinding facility both at
Suli & Ropar in Punjab was commissioned. Land was acquired at
Sahranpur to serve as another site for grinding cement.
- The Company also undertook to set up a new unit, 'Gajambuja Cement'
with an installed capacity of 9.4 lakh tonnes, at the existing
premises. The kiln was fired on 1st March 1993 and the unit produced
its first batch of clinker on 4th March, 1993.
- The Company undertook to set up the third 1 million tonne cement
plant at Ambujanagar. Orders for plant and machinery were placed and
the plant was expected to be commissioned by December 1996. This will
increase the company's total cement capacity to 4.5 million tonnes.
- 45,65,044 shares allotted on conversion of warrants. 12,21,994
allotted on conversion of aurobonds. 375 rights shares kept in
abeyance allotted. 3,02,19,749 bonus shares issued in prop. 1:1
10,00,000 shares allotted to IFC Washington. 4,404 rights shares kept
in abeyance allotted.
- The Company proposed to install one more cement mill at Himachal
- 11,251,829 shares allotted on optional conversion of FCCBs. 7,724
Rights shares kept in abeyance allotted. 7,350 shares allotted on
conversion of tradeable warrants.
- Two more ships 'Ambuja Keerti' and 'Ambuja Shakti' were added to the
Fleet. The Company has submitted a proposal to revive Modi Cements
Ltd. to IDBI during the year.
- Another 19724 No. of equity shares allotted on conversion of
- 100,000,000-10% non-convertible redeemable pref. shares of Rs. 10
each allotted and 30,000,000-12.75% non-convertible redeemable pref.
shares of Rs. 10 each redeemed.
- Gujarat Ambuja Cements Ltd's (GACL) Kodinar plant is set to commence
commercial production with an enhanced capacity by mid-April.
- Gujarat Ambuja Cement Ltd. has offered to set up a multi-crore cement
plant in Jammu and Kashmir.
- Gujarat Ambuja Cement Ltd. (GACL) was set up in 1981 as a joint
sector company, promoted by Narottam Sekhsaria and Gujarat Industrial
Investment Company (GIIC). Its cement plant which was commissioned in
1985 was set up in technical collaboration with Krupp Polysius,
Germany, Bakau Wolf and Fuller KCP.
- Gujarat Ambuja Cement Ltd. (GACL) is setting up two new units with a
capacity of 1.5 m.t. each through its subsidiaries.
- The company has signed a memorandum of understanding (MoU), with the
promoters of Modi Cement to take control of the sick company and has
prepared a revival proposal to be submitted to the Board for Industrial
and Financial Reconstruction (BIFR).
- Gujarat Ambuja Cements to set up a $20 million clinker Grinding unit
in Sri Lanka.
- Gujarat Ambuja is proposing to set up a greenfield cement plant with
a six million tonne capacity in phases in Andhra Pradesh.
- Gujarat Ambuja is setting up a 0.50 MT bulk terminal and a packaging
facility at Tuticorin for Rs 16 crore to increase its presence in the
south, especially Tamil Nadu.
- Maratha Cements Ltd, a wholly-owned subsidiary of Gujarat Ambuja
Cements is to be amalgamated with the latter.
- The company has proposed a bonus shares in the ratio of 1:1.
- Cement giants Larsen & Tubro (L&T) and Gujarat Ambuja Cements have
entered a unique agreement to reduce transportation costs in
despatching bulk cement in Gujarat.
- The Company has entered the fray for setting up a slag cement unit
near the integrated steel complex of Jindal Vijayanagar Steel Ltd. in
- The Company has entered into a contract with a Soinhalese firm,
Mahaveli Marine Cement, to supply around 2.5 lakh tonnes of cement
- Eastern Ambuja Cement, a 92-per cent subsidiary of Gujarat Ambuja
Cement, is in talks with Orissa-based Shiva Cement for a possible joint
- The Company has kickstarted its operations in Sri Lanka with the
setting up of a cement terminal in the port of Galle, in the south of
the island country.
- Ambuja Cement Eastern, a subsidiary of Gujarat Ambuja Cements is
making a preferential allotment of equity to its promoters to mop up Rs
30 crore to part-finance its Rs 130-crore expansion project.
- ICRA has downgraded the non-convertible debenture (NCD) programmes of
- Fitch India has assigned a rating of Ind AAA to the Rs 50 crore NCD
programme of the company.
- The Company has completed the issue of FCCBs of about $100 million
issued in the international markets.
- Gujarat Ambuja Cements Ltd., the fourth largest cement maker in the
country, has closed its issue of secured non-convertible debentures
after raising the targeted Rs 200 crore.
- Gujarat Ambuja Cements Ltd is planning to issue fresh equity shares
on a prefrential basis to non-promoter groups.
- Gujarat Ambuja Cements Ltd (GACL) has received Rs 200 crore from
foreign equity investor, Warburg Pincus, as part of its proposed Rs
360-crore investment in the form of equity shares and convertible ants.
- The company will buyback shares worth Rs 50 crore at a maximum share
price of Rs 170 per share through the open market route, it said.
Gujarat Ambuja Cements has clocked a 112 per cent rise in net profit at
Rs 53.23 crore during the first quarter of the financial year 2001-02.
-Commercial production commences at Gujarat Ambuja Cements Maratha Cement Works plant
-Board approves merger of Ambuja Cement Rajasthan with the company
-Mops up Rs 50 cr by issuing non Convertible Debentures (NCD)
-Allots 80 lacs warrants to Affinity Investments, an Affiliate of Warburg Pincus Equity Partners L.P
-Securities Appellate Tribunal (SAT) directs Sebi to examine Guj Ambuja deal for ACC stake
-SEBI finds no violation of Regulation 12 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 1997 by Gujarat Ambuja Cements Ltd. with regard to the ACC deal
-Raises $80 million through External Commercial Borrowings (ECB)
-BIFR sanctions the rehabilitation scheme for merger of Ambuja Cement Rajasthan with Gujarat Ambuja Cements Ltd.
-Gujarat Ambuja Cements Ltd has informed that Shri NP Ghuwalewala has been appointed as the Wholetime Director of the Company at the Board meeting held today on June 28, 2004
- Company name has been changed from Gujarat Ambuja Cements Ltd to Ambuja Cements Ltd.
-Ambuja Cements Ltd has appointed Mr. Naresh Chandra as an additional director.