Saturday, Mar 2 2024 | Time 01:46 Hrs(IST)
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Business Economy


Ambuja Cements completes acquisition of Sanghi Industries

New Delhi, Dec 5 (UNI) Adani group firm Ambuja Cements on Tuesday said that it has successfully completed the acquisition of Sanghi Industries Limited (SIL).
"This strategic acquisition, valued at an enterprise value of Rs 5,185 crores, enhances Ambuja Cement’s market presence underscoring Adani Group’s steadfast commitment to India’s housing and infrastructure development," the company said in a statement.
With the acquisition funded entirely through internal accruals, Ambuja Cements holds a controlling stake of 54.51% in Sanghi Industries.
Ajay Kapur, CEO, Cement Business said, "This acquisition represents a significant step forward in our journey solidifying Adani Group’s leadership position in India's cement industry."
Ambuja Cements with its subsidiary ACC and Sanghi Industries has a capacity of 74.6 million tonnes with 16 integrated cement manufacturing plants and 16 cement grinding units across the country.
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