Ambuja Cements buys Sanghi Industries at ₹5000 cr enterprise value

Ambuja Cements Limited (ACL) has acquired a 56.74% stake in Sanghi Industries from the latter's existing promoter group Ravi Sanghi and family at an enterprise value of ₹5,000 crore. ACL will make an inter-corporate deposit of ₹300 crore as part of the deal and also make an open offer for 26% stake held by minority stakeholders at ₹114.22/share.