Adani Group company Ambuja Cement has completed the acquisition of Sanghi Industries for Rs 5,185 crore. The group has given this information in the exchange filing.
The company has funded this acquisition from its own funding (internal accruals). After this acquisition, Ambuja Cements has a controlling stake of 54.51% in Sanghi Industries.
After this acquisition, the consolidated capacity of Ambuji Cements has increased from 68.5 MTPA to 74.6 MTPA. The acquisition will accelerate Ambuja Cement’s journey to achieve 140 MTPA capacity before 2028.
Revised open offer
According to exchange filing, Ambuja Cements has revised the open offer to buy additional 2.23% stake in Sanghi Industries to Rs 121.90 per share, which was earlier Rs 114.22 per share.
After this news, an upper circuit of 10% has been imposed on Adani Enterprises and Adani Ports & SEZ. Adani Enterprises hit Rs 2,825 per share, its highest level since February 1, and Adani Ports & SEZ shares hit Rs 969 per share, the highest level since September 21, 2022.

On August 3, Adani Group company Ambuja Cements had announced the acquisition of 56.74% stake in Sanghi Industries.
What is special in the capabilities of Sanghi Cement?
Sanghi Cement was a brand owned by Sanghi Industries, which was started in 1985. Its grinding capacity is 6.1 million metric tons per year and clinker capacity is 6.6 million metric tons per year. The company has installed a 3.2 km closed belt conveyor to transport limestone from the mines to the clinker plant.
The company also has a 130 MW captive thermal power plant, captive mines, water de-salination facility and a captive port in Kutch, Gujarat that handles 1 MTPA cargo. Sanghi Cement sells ordinary portland cement, portland pozzolana cement and portland slag cement in Gujarat, Rajasthan, Maharashtra and Kerala and its ports export cement to countries in the Middle East, Africa and the Indian subcontinent.
Adani Group had also acquired Ambuja Cement
Adani Group had last year acquired Ambuja Cements Ltd and ACC Ltd from Holcim Group for $6.5 billion, becoming the country’s second largest cement maker with a capacity of 65.7 million tonnes per annum. The group plans to double its cement capacity to 140 million tonnes in the next five years.