Adani Group Ambuja Cements Sanghi Deal Ambuja Cement has taken over Sanghi Cement. Adani Groups now hold a total of 56.74 per cent shares of the company. Today, at the time of opening the market, there has been a rise in the stock of the company. Ravi Sanghi, promoter of Sanghi Industries, holds 72.72 per cent stake, according to the exchange. Let us know about it in detail in this report.
Adani Group’s Ambuja Cement has completely taken over Gujarat-based Sanghi. The enterprise value of the company was Rs 5,000 crore. As per the exchange filing, Adani Groups has acquired 14.66 crore shares, which is 56.74 per cent of the total shares.
Ambuja Cement will make an open offer to minority shareholders of Sanghi Industries for up to 26 per cent or over 6.71 crore shares of the company at Rs 114.22 per share. The takeover value of Sanghi’s shares is Rs 2,950.6 crore. If the open offer is successfully subscribed, it will be valued at Rs 2,441.37 crore along with the open offer for a stake of 82.74 per cent.
Today on Thursday, the stock of Sanghi Industries rose by 4.99 per cent to Rs 105.76 on BSE. At the same time, shares of Ambuja Cement also climbed 3.48 per cent to Rs 477.
Last year has acquired ACC Ltd.
Last year, Adani Groups acquired ACC Limited. After which it has become the second largest cement manufacturing company. The annual capacity of the company is 65.7 million tonnes. The company is planning to double the cement capacity in the next five years.
About Sanghi Industries
Sanghi Cement is a brand of Sanghi Industries. It started in 1985. Sanghi Cement has a grinding capacity of 6.1 million metric tonnes per annum and a clinker capacity of 6.6 million metric tonnes per annum. The company also has a 130 MW captive thermal power plant. The company also has a captive port which handles 1 MTPA cargo. Sanghi Cement sells cement in the country as well as abroad.
Ravi Sanghi, the promoter of Sanghi Industries, holds 72.72 per cent stake, according to the BSE exchange. 98.88 per cent shares of the company have been pledged.
