Introduction:
Leading cement manufacturer has announced the approval of a Scheme of Arrangement for the amalgamation with Ambuja Cements. The scheme proposes a share exchange ratio of 12 Ambuja shares for every 100 shares of the other company.
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Share price movement of Sanghi Industries:
On December 18, 2024, Sanghi Industries Ltd. opened at ₹70.70, down 8.22% from its previous close of ₹76.92. The stock reached a high of ₹70.99 and a low of ₹67.42. By 10:09 AM, it traded at ₹68.70, a 10.69% decrease, with a market cap of ₹1,774.70 crore.
Sanghi Industries Approves Arrangement with Ambuja Cement:
Sanghi Industries Limited announced its Board of Directors’ approval for a Scheme of Arrangement with Ambuja Cements Limited. The scheme proposes the amalgamation of Sanghi Industries (Transferor Company) with Ambuja Cements (Transferee Company).
The Scheme, subject to statutory approvals, proposes a share exchange ratio of 12 equity shares of Ambuja Cements for every 100 shares of Sanghi Industries. The merger will fully integrate Sanghi’s 6.6 MMTPA clinker plant and 6.1 MMTPA cement capacity.
Post-merger, certain promoter shareholders of Sanghi Industries will be reclassified as public shareholders in Ambuja Cements, slightly altering its shareholding pattern. This move aligns with Ambuja’s strategy to consolidate and expand its market presence within the Adani Group portfolio.
Recent news on Sanghi Industries:
As of October 26, 2024, Sanghi Industries Ltd. reported a 16.5% YoY decline in revenue to ₹152 crore for Q2FY25. While EBITDA improved to ₹3.1 crore from a loss of ₹27.9 crore, the company posted a higher net loss of ₹196 crore, compared to ₹38.8 crore.
Stock performance of Sanghi Industries for Period of 1 week, 6 months and 1 year:
Sanghi Industries Ltd. has shown a decline in performance, with a 4.02% drop over the past week, 22% over the last six months, and a significant 42.4% decrease in the past year, reflecting ongoing challenges in its stock performance.
Shareholding pattern of Sanghi Industries:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 75.00% | 75% | 78.50% |
| FII | 0.20% | 0.20% | 0.10% |
| DII | 0.30% | 0.40% | 0.20% |
| Public | 24.50% | 24.50% | 21.10% |
About Sanghi Industries:
Sanghi Industries Limited (NSE: SANGHIIND) manufactures and markets cement and cement products, catering to domestic markets in Gujarat, Rajasthan, Maharashtra, and Kerala, as well as international markets in the Middle East, Africa, and the Indian subcontinent.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
