Ambuja Cements Limited has informed the Exchange about Sanction of Scheme of Arrangement between Sanghi Industries Limited and Ambuja Cements Limited and their respective shareholders
AMBUJACEM · price
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Awaiting price reaction for this filing.
Ambuja Cements has received sanction for its Scheme of Arrangement with Sanghi Industries Limited and their respective shareholders. The scheme, which had been under approval process, has now been cleared, likely paving the way for Ambuja to absorb or merge Sanghi Industries. Sanghi Industries is a listed cement manufacturer operating in Gujarat. This is part of Ambuja Cements' strategy to expand its cement capacity under the Adani Group. Shareholders of Sanghi Industries are expected to receive shares of Ambuja Cements in exchange as per the swap ratio already communicated earlier.
Positive for Ambuja Cements as it adds Sanghi's cement capacity (around 6 MTPA) to its portfolio. Sanghi Industries shareholders will benefit from becoming part of a larger, stronger entity. The stock may react mildly as the key regulatory hurdle is now cleared, with only procedural steps remaining.