Adani Group has approved the merger of Sanghi Industries and Penna Cement Industries with Ambuja Cements. The boards have finalised the schemes of arrangement, initiating the process for this strategic integration. Ambuja, India’s second-largest cement manufacturer, acquired Sanghi in December 2023 and Penna in August 2024. The mergers are designed to streamline operations and enhance governance. Under the terms of the merger, Ambuja will issue shares to the shareholders of Sanghi and Penna, with the transactions expected to be completed within 9-12 months. Adani’s cement sector expansion, including recent acquisitions, aims to reach 100 Million tonne (Mn t) per annum by FY25 and 140 Mn t per annum by FY28.

Contact: Adani Group

Website: www.adani.com