Outcome of meeting of equity shareholders of Sanghi Industries Limited pursuant to order passed by Hon''ble National Company Law Tribunal, Ahmedabad Bench.
Awaiting price reaction for this filing.
Sanghi Industries Limited held an NCLT-convened meeting of equity shareholders on November 20, 2025, via video conferencing to consider a Scheme of Arrangement merging the company into Ambuja Cements Limited (Adani Group). The resolution was passed with overwhelming support — 99.85% of valid votes (15,36,19,186 shares out of 15,38,47,945 polled) were in favour, while only 0.15% (2,28,759 shares) voted against. Promoter/promoter group, holding about 58.08% of paid-up capital (approx. 15 crore shares), voted 100% in favour. Public shareholders also approved with the required majority (94.81% of institutions and 93.55% of non-institutions voted in favour). The scheme has now cleared the shareholder approval stage and moves forward under NCLT's process for final sanction.
This is a key milestone toward Sanghi Industries being merged into Ambuja Cements. Shareholder approval at the NCLT-convened meeting removes a major hurdle, with only NCLT's final sanction and other regulatory approvals remaining before the merger can take effect. For Sanghi shareholders, this brings the merger (and any swap ratio consideration) closer to completion, while for Ambuja Cements it paves the way to absorb Sanghi's cement business.