NCLT sanctions Sanghi Industries merger with Ambuja Cements

NCLT Ahmedabad has sanctioned the Scheme of Arrangement for amalgamation of Sanghi Industries with Ambuja Cements, effective from April 1, 2024. Ambuja Cements already holds 58.08 percent of Sanghi as its promoter. The merger will consolidate cement operations, cut costs, and boost shareholder value. The scheme becomes effective after completing remaining legal steps. Sanghi shares are listed on BSE and NSE.