In a major move, Gautam Adani’s Ambuja Cement has decided to acquire Sanghi Industries in a major multi-crore deal, aimed at Rs 5000 crore boost for his company.
After the Hindenburg saga and controversies surrounding the report, Gautam Adani has bounced back and decided to make a major move through his cement company Ambuja Cement, acquiring rival company Sanghi Industries in a massive multi-crore deal.
Gautam Adani-led Adani Group’s big move is set to benefit millionaire Ravi Sanghi majorly, whose family has now sold their 57 percent stake in Sanghi Industries to Ambuja Cement. Through this deal, Ravi Sanghi and his industrialist brothers are set to make Rs 1674 crore.
Sanghi Industries is a major rival company for Adani’s Ambuja Cement, and this business deal with boost the profits of the billionaire’s firm by thousands of crores. Through this deal, the promoters of Sanghi Industries will be given Rs 1674 crores in exchange for their 57 percent stake in the company.
While speaking about the Sanghi deal, billionaire Gautam Adani said, “This landmark acquisition is a significant step forward in Ambuja Cements' accelerating growth journey. By joining hands with SIL, Ambuja is poised to expand its market presence, strengthen its product portfolio, and reinforce its position as a leader in the construction materials sector. With this acquisition, Adani Group is well on course to achieve its target of 140 MTPA of cement manufacturing capacity by 2028 ahead of time.”
Sanghi Industries is promoted by Ravi Sanghi and his brothers Anand Prakash Sanghi, Sudhir Sanghi, and Girish Sanghi. The cumulative net worth of the Sanghi brothers is known to be over Rs 600 crores, according to media reports.
The Adani Group is planning on lending another Rs 300 crore to the Sanghi family and has currently valued Sanghi Industries at Rs 114 per share. Ambuja Cements will also make an open offer worth another Rs 767 crore, as per PTI reports.
With the acquisition of Ravi Sanghi’s rival cement firm, Adani’s Ambuja Cement is eyeing the top spot in cement manufacturing in the country, which is currently held by UltraTech. The acquisition of Sanghi will take its capacity to 73.6 MTPA (million tonne per annum).
READ | Gautam Adani's first big move after Hindenburg saga, gives Rs 5,000 crore boost to his Rs 93,600 crore firm
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Meet the millionaire set to make Rs 1674 crore from Gautam Adani’s latest move")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}