The Adani group on Friday announced the opening of its Rs 31,000 crore open offer to buy a further 26% of the publicly traded Indian subsidiaries of Swiss company Holcim, ACC Ltd. and Ambuja Cements, from the public shareholders.

The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment.

Earlier in May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer last week.

 For Ambuja Cements, the group had made an open offer to the public shareholders to acquire up to 51.63 crore equity shares, representing 26 per cent of the expanded share capital, aggregating to Rs 19,879.57 crore.

As per the revised schedule submitted by ICICI Securities and Deutsche Equities India, managers to the open offer, the tendering of shares opens from August 26 and will end on September  9, 2022. In May, the Adani Group had made an open offer at Rs 385 per share for Ambuja Cements and Rs 2,300 per share for ACC.

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