Ambuja & other promoter of cement co Sanghi to sell 4%

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MUMBAI: Sanghi Industries‘ promoters Ambuja Cements and Ravi Sanghi will sell about 4% of the constructing supplies maker by the offer-for-sale route. The flooring value for the OFS has been set at Rs 90 apiece.
The shares of Sanghi Industries closed at Rs 102 apiece on the BSE on Tuesday. The OFS will open on June 26 for non-retail traders and on June 27 for retail traders on the inventory exchanges.The OFS is being undertaken to obtain the minimal public shareholding of Sanghi Industries, the corporate mentioned.
Ambuja Cements will sell almost 2.4% or 60.9 lakh shares of Sanghi Industries whereas Ravi Sanghi will sell about 1.2% or 30 lakh shares of the corporate. As of March 31, promoters held 79% of the Saurashtra-based cement maker. After the conclusion of the OFS, promoters will maintain 75% of Sanghi Industries, in step with Sebi’s guidelines of having not less than 25% fairness in free-float.
In March, the promoters offloaded 2% of Sanghi Industries within the open marketplace for Rs 258 apiece. In Aug 2023, Ambuja Cements – owned by Gautam Adani and household – purchased a majority stake in Sanghi Industries from Ravi Sanghi for an enterprise worth of Rs 5,000 crore. Incorporated in June 1985, Sanghi Industries has a producing facility in Gujarat’s Kutch area – it’s the nation’s largest single-location cement and clinker unit.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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