Ambuja Cements up 3%, Sanghi Industries 5% as investors cheer acquisition deal

According to Jefferies, after acquisition, Ambuja’s capacity stands at 74.6 MTPA. The company is also set to increase capacity to around 100-110 mtpa By FY26/FY27

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Sanghi Industries Limited and Ambuja Cement stocks extended gains to second day, rising 4.99 percent and 2.64 percent in the morning trade on December 6, a day after the Gautam Adani-led company completed its acquisition of SIL.

At 9.20 am, Ambuja Cement was trading at Rs 522.50 and Sanghi Industries at Rs 135.70.

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According to exchange data, cement major Ambuja Cements  bought 13,34,95,941 equity shares, or a 51.68 percent stake, in the Sanghi Industries Limited through an open market transactions at an average price of Rs 121.9 a share, valuing the deal at Rs 1,627.3 crore.

Ambuja Cements now holds a controlling stake of 54.51 percent in SIL.

The stake was picked up after promoters Alok Sanghi, Sanghi Industries, Flarezeal Solutions LLP, Ravi Sanghi, Samruddhi Investors Services, Sanghi Polymers, and Aditya Sanghi sold 13,24,75,741 shares in the company.

Sanghi Industries had closed 5 percent and Ambuja Cement 7 percent higher on December 5 after the announcement.

Also read: Adani Group completes acquisition of Sanghi Industries, revises offer price to Rs 121.90/share

Brokerage firm Jefferies has a “buy” call on Ambuja Cements after the acquisition, with a target price of Rs 540 a share.

According to the brokerage, the acquisition would take Ambuja’s capacity to 74.6 mtpa with immediate de-bottlenecking opportunities of 1.5 mtpa capacity. The company is also slated to increase capacity to around 100-110 mtpa by FY26/FY27.

The increasing capacity gives strong visibility of industry leading volume growth in the medium term, it said.

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