Sanghi Industries and Penna Cement will merge with Ambuja Cements: Sanghi shareholders will get 12 shares of Ambuja in exchange for every 100 shares

Adani Group’s Ambuja Cements has announced (17 December) the merger of its subsidiary companies Sanghi Industries and Penna Cement Industries with itself. Under the Scheme of Arrangement, shareholders of Sanghi Industries will get 12 shares of Ambuja Cements in exchange for every 100 shares.

Last year, the company acquired Sanghi Industries for around Rs 5,185 crore. In fact, Ambuja Cements wants to increase its total cement production capacity to more than 100 MTPA by the end of this financial year. Recently, Ambuja Cements has announced the acquisition of 46.8% stake in Orient Cement Limited.

The objective of the merger is to make the company more competitive and efficient

Adani Group’s Cement Business CEO Ajay Kapoor said – The objective of this merger is to make the company more competitive and efficient, which will increase the value of our shareholders. Better working capital management and internal funds will support our business operations.

Penna has 4 integrated plants in Andhra Pradesh and Telangana

Penna has 4 integrated plants in Andhra Pradesh, Telangana and a grinding unit in Maharashtra. Its operational capacity is 10 MTPA. Along with this, 2 plants with 2 MTPA capacity in Krishnapatnam and Jodhpur are under construction, which are expected to be completed in the next 8-12 months. Apart from this, there are also five bulk cement terminals in Kolkata, Gopalpur, Karaikal, Kochi and Colombo (Sri Lanka).

At the same time, Sanghi Industries’ Sanghipuram plant is India’s largest single-location cement and clinker unit in terms of capacity, with a captive jetty and captive power plant. Sanghi Industries has a clinker capacity of 6.6 MTPA, cement production capacity of 6.1 MTPA and limestone reserves of one billion tonnes.

Ambuja Cements stock fell by 0.94%

Ambuja Cements stock fell by 0.94% today. In the last 5 days, the company’s stock has seen a decline of 1.51% and a rise of 3.81% in 1 month. At the same time, Ambuja Cements gave a return of 8.72% in the last 1 year.

Sanghi Industries shares fell by 0.19%

Sanghi Industries shares fell by 0.19% today. The company’s shares have fallen by 5.95% in the last 5 days and 5.02% in 1 month. At the same time, in the last 1 year, Sanghi Industries gave a negative return of 42.24%.