The proposed merger of Sanghi Industries with Adani-led Ambuja Cements received the National Company Law Tribunal‘s green light on Monday.
In an exchange filing, Ambuja Cements said the tribunal pronounced its order on February 9, 2026, sanctioning the scheme of arrangement between the two companies and their respective shareholders.
As per the scheme, April 1, 2024 has been fixed as the appointed date, while the merger is set to take effect after all formalities and steps outlined in the scheme are completed.
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“The Appointed Date of the Scheme is April 1, 2024. It will be effective upon completion of the steps, as laid out in the Scheme. We will update the exchanges once the Scheme becomes effective,” the filing.
Ambuja Cement’s consolidation plans
Ambuja had announced in December 2024 that Sanghi Industries would be merged into the company as part of a broader consolidation plan, which also includes the merger of Penna Cement Industries.
According to the arrangement with Sanghi Industries, shareholders will receive 12 shares of Ambuja Cements for every 100 shares held in Sanghi.
Moreover, Ambuja Cements, which is the promoter of Sanghi Industries and holds a 58.08% equity stake, had completed the acquisition of Sanghi Industries last year for about Rs 5,185 crore.
The Adani Group-owned firm had also said the merger will allow it to fully absorb Sanghi’s operations, streamline its organisational structure and simplify compliance requirements.
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Sanghi Industries operates a clinker capacity of 6.6 million tonnes per annum (MTPA) and cement capacity of 6.1 MTPA, with limestone reserves estimated at around one billion tonnes. Its Sanghipuram facility in Gujarat is among the largest single-location cement and clinker plants in the country, supported by a captive jetty and power plant.
Following a series of acquisitions, Ambuja Cements is aiming to scale up its cement to about 140 MTPA by 2027–28.
The company had said that the consolidation is expected to improve operational efficiency, strengthen cash flow management and support faster expansion, ultimately enhancing shareholder value.
