(Reuters) - India's Ambuja Cements will merge two of its recently purchased units into the company, it said on Tuesday, in a bid to streamline the structure of the Adani Group's cement businesses and simplify compliance requirements. Ambuja acquired Penna ...

Investec expressed confidence in Ambuja Cements’ management and its ability to meet growth and cost-saving targets.

Factoring the growth pipeline, lease expires, promoter’s economic interest in Ambuja Cements, Investec said it prefers Ambuja Cements over ACC, another Adani group stock.

Ambuja Cements said it had completed the acquisition of Sanghi Industries Limited at an enterprise value of Rs 5,185 crore.

Investec maintains 'buy' on Ambuja Cements at a target of Rs 950 per share, an upside of 65% from the previous close.

Adani Group-promoted Ambuja Cements on Tuesday announced an amalgamation of its two subsidiaries – Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL) – with itself. It said it has entered separate Schemes of Arrangement for the two subsidiaries.

India: Ambuja Cements will merge its recently acquired companies, Sanghi Industries and Penna Cement Industries. Ambuja Cements purchased Sanghi Industries in December 2023 and Penna Cement in August 2024.

Ambuja Cements will merge Sanghi Industries and Penna Cement Industries with itself, aiming to streamline operations and enhance shareholder value.

Merger of Sanghi Industries with Ambuja Cements offers Sanghi shareholders national brand, all-India reach, and Adani group benefits; Sanghi shares drop

Adani Group will consolidate its cement operations by merging two units under Ambuja Cements Ltd. as billionaire Gautam Adani streamlines a business that is vital for India’s infrastructure push.

Under the proposed scheme with Sanghi Industries, shareholders will receive 12 Ambuja Cements shares for every 100 Sanghi shares held. Ambuja, already the promoter with a 58.08% stake in Sanghi, seeks to fully integrate the business to drive efficiency and growth.