Ambuja Cements Limited — JV/Acquisition, 17-12-2024: Amalgamation/Merger

Ambuja Cements Limited has approved two schemes of amalgamation with Sanghi Industries Limited and Penna Cement Industries Limited. The transferor companies, both subsidiaries of Ambuja, will integrate their operations, enhancing efficiency and reducing costs. Sanghi reported revenue of ₹821.35 Cr with a net worth of ₹1,110.79 Cr, while Penna generated ₹1,219.24 Cr with a net worth of ₹468.43 Cr for FY 2023-24. Post-amalgamation, Ambuja will issue 12 shares for every 100 Sanghi shares and offer ₹321.50 per share to Penna shareholders. This strategic move aims to unlock shareholder value and streamline operations.