Adani Group-owned Ambuja Cements has reached a deal to acquire a majority stake in Sanghi Industries, which will add significant cement operations to India’s second-largest cement producer. 

Sanghi Industries manufactures and markets cement and its adjacent products and is valued at Rs 6,000 crore. The company’s manufacturing unit is located in Sanghipuram, Gujarat, where it produces three types of cement:

1. Ordinary Portland cement. 
2. Portland slag cement. 
3. Portland pozzolana cement.  

The company has the capacity to produce 6.1 million metric tonnes per annum, making it one of the leading cement producers in Gujarat. 

The deal is likely to be revealed on 3 August and will reveal the exact stake percentage. 

Ambuja Cement has the capacity to produce more than 65 million tonnes with more than a dozen production units across India. 

The shares of cement producer reached a new 52-week high of Rs 100.40 after the news of the acquisition hit the market during the early morning hour. 

At 12:30 pm, the shares of Sanghi Industries were trading at Rs 100.40 or 4.97% above its previous close on NSE.