Adani Group acquires Sanghi Ind at revised offer price

New Delhi: Billionaire Gautam Adani-owned Ambuja Cements Ltd on Tuesday announced the completion of the acquisition of Sanghi Industries Ltd (SIL), at a revised offer price of Rs121.90 per share.

Earlier in August this year, Ambuja Cements Ltd (ACL) had offered a price of Rs114.22 apiece for acquiring 26 per cent equity shares of Rs10 each of Sanghi Industries from its public shareholders. “In terms of the company’s obligations under the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations), the offer price as defined in the PA shall stand revised to Rs121.90,” Ambuja Cements said in a regulatory filing.