Ambuja Cements zooms on completing acquisition of Sanghi Industries
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Ambuja Cements is currently trading at Rs. 499.05, up by 24.60 points or 5.18% from its previous closing of Rs. 474.45 on the BSE.
The scrip opened at Rs. 475.00 and has touched a high and low of Rs. 500.75 and Rs. 474.60 respectively. So far 312382 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 598.15 on 09-Dec-2022 and a 52 week low of Rs. 315.30 on 02-Feb-2023.
Last one week high and low of the scrip stood at Rs. 504.65 and Rs. 428.15 respectively. The current market cap of the company is Rs. 98249.73 crore.
The promoters holding in the company stood at 63.19%, while Institutions and Non-Institutions held 27.17% and 9.64% respectively.
Ambuja Cements (ACL) has successfully completed the acquisition of Sanghi Industries (SIL), marking a significant milestone in its growth journey. This strategic acquisition, valued at an Enterprise Value of Rs 5,185 crore, enhances Ambuja Cement’s market presence underscoring Adani Group’s steadfast commitment to India’s housing and infrastructure development.
With the acquisition funded entirely through internal accruals, ACL holds a controlling stake of 54.51% in SIL. ACL is committed to leveraging operational synergies resulting from this acquisition to enhance efficiency, reduce costs, and maintain a sustainable approach to cement production. The acquisition of SIL, with its billion-tonne high quality surface mining limestone reserves, positions ACL to expedite its unique coastal strategy, aiming to increase the cement capacity to 15 MTPA along the West Coast on the strength of SIL’s low-cost clinker.
Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets. It is a material company of Adani Cement and part of the diversified Adani Group.
