Adani Group: Companies of Adani Group are slowly and continuously recovering from the impact of the controversial Hindenburg Report earlier this year. Following the positive trend in favor of the group, Adani has again started his strategy of expansion. Recently Adani group has bought ‘Trainman’, a train ticket booking platform. Now, The group is gearing up to make another big deal.
According to a report in Reuters, Adani Group may soon acquire a majority stake in Sanghi Industries. In the report, it has been reported that talks are going on regarding the proposed deal between Adani Group and Sanghi Industries. An official announcement regarding the same can be made soon.
Sangi Group value
As per reports, Sanghi’s enterprise value has been estimated at $ 729 million which is around Rs 6000 crore. The sources said that the deal is almost done. Earlier, Economic Times had also reported that Adani Group is winning the race to acquire Sanghi Industries.
What does Sanghi Industries do
Sanghi Industries Limited is a conglomerate headquartered in Ahmedabad, Gujarat. Its major subsidiary firms include Sanghi Cements Limited, Sanghi Threads Limited, and Sanghi Filaments Private Limited.
In western India, it is considered to be amongst the largest cement manufacturing Company. The company manufactures and sells cement.
Adani group is in the race to be top
The acquisition of Sanghi Industries is crucial for the Adani group in many ways. Adani group joined the top race in the cement industry a short time ago. The group has bought Ambuja Cement and ACC from Holcim. Adani Group is now the second position in the country in terms of cement manufacturing.
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