Tag: ravi sanghi

MUMBAI: India’s second richest person Gautam Adani has struck a deal with Ravi Sanghi and family to acquire their cement business, Sanghi Industries, for an enterprise value of Rs 5,000 crore, including Rs 1,531-crore debt. Sanghi is Adani’s first major acquisition after US short-seller Hindenburg Research’s damning report on his group’s business practices.Ambuja Cements, which Adani acquired in September 2022, will buy 57% in Sanghi from the promoter family. The deal, expected to be concluded in three to four months, will increase Ambuja’s capacity to 73.6 million tonnes...