Mumbai: Adani Group-owned Ambuja Cements Limited (ACL) on Tuesday announced the completion of the acquisition of Sanghi Industries Limited (SIL), at an enterprise value of Rs 5,185 crore. With the acquisition funded entirely through internal accruals, Ambuja Cement holds a controlling stake of 54.51 per cent in SIL.

Soon after the release, shares of Ambuja Cement rose 7 per cent to Rs 510.30 in intraday trade while shares of Sanghi Industries reached Rs 129.90 with an upper circuit of 5 per cent.

SIL's expansive Sanghipuram integrated manufacturing unit spans 2,700 hectares, standing as India's largest single-location

cement and clinker production facility. The facility features two kilns with a clinker production capacity of 6.6 million metric tons per annum (MTPA), alongside a dedicated 13 MW captive power plant and a 13 MW Waste Heat Recovery System.

Leveraging its extensive billion-tonne surface mining limestone reserves, the acquisition of SIL will strategically position ACL to accelerate its coastal expansion plans. The objective is to enhance cement capacity to 15 million metric tonnes per annum (MTPA) along the West Coast, leveraging SIL's cost-effective clinker, the company said in a statement.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh

Todays Epaper

English Weekly

neerus indian ethnic wear
Latest Urdu News

Do you think there should be a retirement age in politics?

Can't Say