Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand Adani Green Energy to… Continue reading Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal
Tag: Ambuja
Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr
Ambuja Cements on Thursday announced that it would acquire Sanghi Industries Ltd (SIL) at an enterprise valuation of Rs 5,000 crore. The Adani Group company will acquire a 56.74 per cent stake in SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals. According… Continue reading Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr
Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr
The Adani group will invest Rs 4,500 crore in acquiring the promoters’ stake and take over the company’s debt of around 1,500 crore, a banking source said. An announcement is expected any time. Sanghi Cement has a capacity of 6.1 mtpa and will help the Adani companies, Ambuja and it’s subsidiary ACC, to reach… Continue reading Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr
Sanghi Ind freezes at 5% upper circuit as Ambuja eyes buying majority stake
Shares of Sanghi Industries were locked in the 5 per cent upper circuit at Rs 100.73 on the BSE on Wednesday after a Reuters report said that Ambuja Cements has reached a deal to acquire a majority stake in the company. The deal valuation is expected to be pegged at Rs 6,000 crore. A combined… Continue reading Sanghi Ind freezes at 5% upper circuit as Ambuja eyes buying majority stake
Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand
Adani Group-owned Ambuja Cement, on Wednesday, reported a 31 per cent year-on-year (YoY) rise in consolidated net profit for the April-June quarter of financial year 2023-24 (Q1FY24). Profit after tax (PAT) for the quarter stood at Rs 1,135.46 crore as against Rs 865.44 crore profit seen in the corresponding quarter of the previous year… Continue reading Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand
Ambuja Cements to acquire majority stake in Sanghi Industries: Reports
India’s Ambuja Cements has reached a deal to acquire a majority stake in operations of Sanghi Industries, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani’s firm. The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said,… Continue reading Ambuja Cements to acquire majority stake in Sanghi Industries: Reports