Ambuja Cements, Ravi Sanghi to offload 3.52% stake in Sanghi Industries

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Ambuja Cements, Ravi Sanghi to offload 3.52% stake in Sanghi Industries - Business Standard

Quick Summary:

Shares of Sanghi Industries, in which the majority stake was acquired by Adani group firm Ambuja Cement last year, were trading at Rs 102.35, higher by 0.09 per cent on the BSE in morning deals.

"Ambuja Cements and Ravi Sanghi (the seller/promoters) propose to sell up to 90,92,000 equity shares of Sanghi Industries representing 3.52 per cent of the total issued and paid up equity share capital of the company," it said.

Adani group firm Ambuja Cements and Ravi Sanghi, the promoters of Sanghi Industries, will sell 3.52 per cent stake in the Saurashtra-based cement manufacturer.