Adani Group concludes Sanghi Industries acquisition

06 Dec 2023 CW Team

Ambuja Cements, owned by billionaire Gautam Adani, declared the finalisation of the acquisition of Sanghi Industries (SIL) at a revised offer price of Rs 121.90 per share. Back in August of this year, Ambuja Cements (ACL) had proposed a price of Rs 114.22 for each share, aiming to acquire 26% of the equity shares, each valued at Rs 10, from Sanghi Industries' public shareholders.

According to a regulatory filing by Ambuja Cements, "In terms of the company's obligations under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ('Takeover Regulations'), the offer price as defined in the PA shall stand revised to Rs 121.90."

In a separate statement, ACL conveyed that it had "successfully completed the acquisition of Sanghi Industries, funded entirely through internal accruals" at an enterprise value of Rs 51.85 billion. The statement also mentioned, "With the acquisition funded entirely through internal accruals, ACL holds a controlling stake of 54.51% in SIL."

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..