Ambuja Cements merger: The Adani Group-owned Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself. Ambuja Cements holds 58.08 per cent of Sanghi Industries' paid-up equity share capital. As part of the deal's completion, Ambuja Cements also executed a trade to acquire 54.51 per cent of the voting share capital from …
Mumbai: Adani Group-owned Ambuja Cements Limited on Tuesday announced the completion of the acquisition of Sanghi Industries Limited, at an enterprise value of Rs 5,185 crore. Soon after the release, shares of Ambuja Cement rose 7 per cent to Rs 510.30 in intraday trade while shares of Sanghi Industries reached Rs 129.90 with an upper circuit of 5 per cent. …
Cash-strapped IL&FS Group on Wednesday said it has completed sale of its 73.69 per cent stake in education business, held under Schoolnet India Ltd, to Falafal Technologies. Falafal Technologies Pvt Ltd has paid Rs 7.37 crore as equity value for shares of SIL held by IL&FS Ltd and IL&FS Employee Welfare Trust, in addition to taking over SIL's fund based …
)