Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015.
Awaiting price reaction for this filing.
The NCLT Ahmedabad Bench has directed Sanghi Industries to convene a meeting of its equity shareholders on November 20, 2025 (via video conference) to consider and approve the proposed Scheme of Arrangement for amalgamation with Ambuja Cements Ltd. The appointed date for the merger is April 1, 2024. Ambuja already holds 58.08% of Sanghi's equity and 100% of its preference shares, making Sanghi a subsidiary. Both companies are part of the Adani Group's cement business and share the same line of operations. Valuation reports and fairness opinions from BDO, Vivro, GT Valuation Advisors, and IDBI Capital have been submitted to support the share exchange ratio. The rationale cited includes operational integration, cost savings, economies of scale, and simplification of group structure.
If shareholders approve the scheme, Sanghi Industries will merge into Ambuja Cements and its shareholders will receive Ambuja shares per the exchange ratio, leading to delisting of Sanghi. Consolidation could unlock synergies and cut overheads, but the swap ratio and final approvals will be key drivers of shareholder value.