The Adani Group, led by Gautam Adani, is rapidly strengthening its position in the cement sector, and Ambuja Cements, a part of the group, is reportedly close to sealing a deal to acquire a majority stake in Sanghi Industries. Sources suggest that the announcement of the deal is expected on August 2. However, the specific percentage of stake being purchased by Ambuja Cements is yet to be disclosed.
Deal Valued at Rs 6,000 Crore: Ambuja Cements Set to Expand Presence in Cement Sector
The deal is reportedly valued at an enterprise value of Rs 6,000 crore ($72.9 million) for Sanghi Industries. Recent media reports revealed that Adani Group’s company was among the top contenders in the race to buy Sanghi Industries. Adani Group has been focusing on the cement sector, with its existing ownership of Ambuja Cements and its subsidiary ACC. Together, these cement companies boast an annual manufacturing capacity of over 65 million tonnes and operate more than a dozen plants across India.
Adani Group’s Focus on Cement Sector
While Adani Group refrained from responding to media queries, Sanghi Cement declined to comment on the potential deal. Sanghi Industries is recognized as one of the leading cement manufacturers in Gujarat, with an annual capacity to produce 6.1 million tonnes of cement, according to information available on its website. As Adani Group continues to expand its market presence in the cement sector, this potential acquisition could further solidify its position as a significant player in the industry.
