Holcim has picked up further 1.65 per cent stake in Gujarat Ambuja Cements Ltd (GACL) for Rs 307.46 crore in open market transactions.
Holcim through its subsidiary Holderind Investments acquired 2.25 crore equity shares of GACL at a price of Rs 136.65 each, according to data available on the Bombay Stock Exchange.
Foreign investor Meinl Bank Aktiengesellschaft has sold 2.25 crore equity shares of GACL in a block deal on the BSE.
As on September 30, Holderind Investments Ltd held 14.74 per cent stake in GACL.
Last year, the German Cement major had acquired 14.8 per cent stake in Gujarat Ambuja Cements Ltd for Rs 2,100-crore.