Saturday 02 Mar, 2024 09:14 PM
Site map | Locate Us | Login
   Welspun Corp gains after arm plans to set up manufacturing facility in Madhya Pradesh    CRISIL revises outlook on ratings of Angel One to 'Positive?    Patel Engg JV bags LoA for Rs 525-cr order    H.G. Infra rises on bagging Rs 447-cr LoA    Vimta Labs climbs on securing Govt grant for upgrading lab    Swan Energy Ltd leads losers in 'A' group    Gensol Engineering Ltd leads losers in 'B' group    Volumes jump at Rallis India Ltd counter    Banking stocks slide    RBL Bank Ltd soars 1.5%, up for third straight session    Canara Bank gains for third straight session    JSW Steel Ltd up for third straight session    NMDC Ltd spurts 1.58%    Jindal Steel & Power Ltd gains for third straight session    National Aluminium Company Ltd gains for third straight session 
Saravan Stocks
Hot Pursuit
Scrips, which has significant changes during the market hours.
Ambuja Cements gallops on completing acquisition in Sanghi Industries
05-Dec-23   14:57 Hrs IST

Shares of Sanghvi Industries were locked in an upper circuit of 5% at Rs 129.90.

With the acquisition funded entirely through internal accruals, ACL holds of 54.51% in SIL.

SIL?s Sanghipuram unit is India?s largest single-location cement and clinker unit by capacity, potentially the lowest cost cement producer in the country with a captive jetty and power plant. The acquisition increases ACL?s consolidated capacity to 74.6 MTPA from 68.5 MTPA.

ACL will increase its coastal footprint with this acquisition & by increasing capacity to 15 MTPA across the west coast markets with states of Gujarat, Maharashtra, Karnataka, Kerala at a very competitive cost based on SIL?s strength of low cost clinker. This additional capacity is to be commissioned over next 30 months.

Ajay Kapur, CEO, cement business said, ?Recognizing the Adani Group's expertise in marine infrastructure, plans are underway to expand the Sanghipuram port's capacity to handle larger vessels, facilitating cost-effective transportation of clinker and cement via sea routes.?

Meanwhile, Ambuja Cements will acquire an additional 2.23% stake in Sanghi Industries for Rs 121.90 per equity share, revised from Rs 114.22 determined on 3 August 2023.

Further, the company has executed ICD amendment agreement with SIL on 2 December 2023 between to amend the terms and conditions of the ICD agreement and provide for the lending of additional funds of up to Rs 1,810 crore to SIL for the repayment of outstanding amounts in relation to the credit facilities availed by SIL.

Sanghi Industries is engaged in the manufacturing and marketing of cement and cement products in domestic and export market.

Ambuja Cements is a major cement producing company in India. The principal activity of the company is to manufacture and market cement and clinker for both domestic and export markets.

Powered by Capital Market - Live News

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID:       Customers grievances :     Compliance officer : Mr.R Udayakumar ,,  Mobile No: 7305522205
Hit Count : 31072927
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 56990 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. SSPL WEALTH Pvt. Ltd