LOTIS IFSC Private Limited, Ambuja Concrete North Private Limited, and Ambuja Concrete West Private Limited are three completely owned subsidiaries that the Adani group firm Ambuja Cements has established, according to a notification to Indian stock market bourses. Out of these three businesses, LOTIS IFSC is in the private aviation sector, while the other two are in the cement sector.
Ambuja Cements announced the incorporation of three new companies to Indian exchanges, stating, “Pursuant to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that Ambuja Cements Limited (ACL), has incorporated a new Wholly Owned Subsidiary Companies as follows — 1. LOTIS IFSC Private Limited; 2. Ambuja Concrete North Private Limited; and 3. Ambuja Concrete West Private Limited.”
Ambuja Cements continued by stating that LOTIS IFSC Private Limited has a 1.7 crore authorized capital. Ambuja Cements will purchase 17 lakh shares of the LOTIS IFSC, with a face value of 10 per equity share, as part of its incorporation.
Similar to this, Ambuja Concrete North Private Limited has a 1 lakh rupee authorized capital and 10 rupee face value per share. The authorized capital of Ambuja Concrete West Private Limited is also one lakh rupees, and each equity share has a face value of ten rupees.
Ambuja Cements continued by stating that the private aviation sector is represented by LOTIS IFSC while the cement sector is represented by Ambuja Concrete North Private Limited and Ambuja Concrete West Private Limited.
the purpose of incorporation
Ambuja Cements provided Indian exchanges with an explanation of the rationale behind this establishment, stating that LOTIS IFSC Private Limited had been purchased to conduct the business of owning and leasing aircraft.
The Adani group firm continued by announcing the acquisition of Ambuja Concrete North Private Limited, which would continue to manufacture and trade in cement, RMX, and related goods and byproducts. Similar to this, Ambuja Concrete West Private Limited has been established to operate the business of producing and selling cement, RMX, and related goods and by-products.
