Sanghi & Penna to merge with Ambuja
Financial Express Kolkata|December 18, 2024
SEPARATE SCHEMES OF ARRANGEMENT ANNOUNCED
PRESS TRUST OF INDIA

ADANI GROUP ENTITY Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself. As part of this, Ambuja Cements will issue 12 equity shares of the face value of ₹2 each for every 100 shares of Sanghi Industries of face value of ₹10 held by its shareholders. With this, the eligible shareholders of Sanghi will become the shareholders of Ambuja Cements.

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