Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements | Company Business News

Adani Group-owned Ambuja Cements announced the merger of Sanghi Industries and Penna Cement Industries with itself on Tuesday, December 17.

Under the scheme of arrangement with Sanghi Industries, shareholders will get 12 shares of Ambuja for every 100 shares held in Sanghi.

After a series of acquisitions, Ambuja Cements plans to increase its total cement production capacity to over 100 MTPA by the end of this fiscal.