Adani Group on Tuesday announced that it will merge its recently acquired Sanghi Industries and Penna Cement with Ambuja Cements to consolidate cement operations in one unit. Ambuja Cements issued separate schemes of arrangement of its subsidiaries Saurashtra-based Sanghi Industries (SIL) and Andhra Pradesh-based Penna Cement Industries Limited (PCIL). "This consolidation will help to streamline the organisation structure and simplify compliance…

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Adani Group to merge Sanghi Industries, Penna Cement with Ambuja Cements to consolidate operations

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Rajat Sharma

Ambuja Cements Ltd.'s board on Tuesday approved the merger of its recently acquired entities—Sandhi Industries Ltd. and Penna Cement Industries Ltd.—with itself through separate schemes of arrangement.The Adani Group cement-maker will issue 12 equity shares of face value of Rs 2 each for every 100 equity shares of Sanghi Industries of face value Rs 10. The eligible shareholders of Sanghi Industries will become the shareholders of Ambuja Cements,…

NDTV Profit

Ambuja Cements Approves Merger Of Sanghi Industries, Penna Cement With Itself

New Delhi, Dec 18 (PTI) Shares of Sanghi Industries on Wednesday tumbled nearly 13 per cent following news that the Adani Group will merge the firm and Penna Cement with Ambuja Cements to consolidate cement operations in one unit. The stock tanked 12.35 per cent to Rs 67.42 -- its 52-week low -- on the BSE. At the NSE, it slumped 12.86 per cent to Rs 67.01 -- the 52-week low. Adani Group will merge its recently acquired Sanghi Industries and Pen…

NewsDrum

Sanghi Industries shares tumble nearly 13 pc

Ambuja Cements, part of the Adani Group, has announced the amalgamation of its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL) into the parent company. The move aims to enhance shareholder value, streamline operations, and simplify compliance requirements for effective governance. Key Highlights of the Merger: 
Share Exchange Ratio: For every 100 equity shares of SIL (face value ₹10 each), Ambuja Cements w…

Business Upturn

Ambuja Cements to merge Sanghi Industries and Penna Cement to streamline operations

In a major strategic move, Ambuja Cements has announced the merger of Sanghi Industries and Penna Cement Industries into its operations, creating a unified governance structure. This bold consolidation effort is set to enhance operational efficiency, strengthen competitiveness, and simplify compliance processes, positioning Ambuja as a dominant player in the cement industry. A Game-Changing Opportunity for Sanghi Industries Shareholders For Sang…

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Venod Sharma

Ambuja Cements’ Merger With Sanghi Industries And Penna Cement

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Source link  The post Sanghi Industries shares tumble 12% on merger with Ambuja Cements …

GAGA INDIA

Sanghi Industries shares tumble 12% on merger with Ambuja Cements - GAGA INDIA

Ahmedabad, December 17, 2024: Cement company Ambuja Cements has announced separate Schemes of Arrangement of its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL). The proposed Schemes inter alia provide for the Amalgamation of SIL and PCIL with Ambuja Cements. CEO – Cement Business, Adani Group, Ajay Kapur said, “This merger aims to make our company more competitive and efficient, ultimately enhancing share…

realtynmore.com

Ambuja Cements Announces Amalgamation of its Subsidiaries

Shares of Sanghi Industries slumped 12.4% on Wednesday to Rs 67.42 on BSE after the company’s promoter Ambuja Cements said it will issue 12 shares for every 100 shares of Sanghi Industries under a merger scheme. Ambuja Cement said on Tuesday that it will merge its acquired companies— Sanghi Industries and Penna Cement Industries— with itself, under separate schemes of arrangement for the subsidiaries. Ambuja Cement as the promoter of the Sanghi …

Verve times

Sanghi Industries shares tumble 12% on merger with Ambuja Cements

18th December 2024: Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, today announced separate Schemes of Arrangement of its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL). The proposed Schemes inter alia provide for the Amalgamation of SIL and PCIL with Ambuja Cements. Mr. Ajay Kapur, CEO […] The post Ambuja Cements Merges Sanghi Industries and Penna Cement firs…

businessnewsweek.in

Ambuja Cements Merges Sanghi Industries and Penna Cement - Business News Week

The Adani Group recently announced a significant merger in the cement sector. Ambuja Cements, a part of the Adani Group, will be merging its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL)with itself. This move is aimed at consolidating their cement business and enhancing overall efficiency and competitiveness.The merger aims to enhance working capital management, pool resources for faster expansion, and a…

Adani Group to merge Sanghi Industries, Penna Cement with Ambuja Cements to consolidate operations

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