Sanghi Industries' shares plummeted over 12% to ₹67.42, following Ambuja Cements' merger announcement. Ambuja, holding a 58.08% stake, will issue shares to Sanghi's shareholders. The merger aims to enhance business efficiency and shareholder value,

The Adani Group company announced the acquisition of Sanghi Industries last year, a deal that it completed in December 2023 at an enterprise value of ₹5,185 crore.

The merger of Sanghi Industries and Penna Cement Industries into Ambuja aims to streamline operations and solidify its market position. Under the proposed scheme with Sanghi Industries, shareholders will receive 12 Ambuja Cements shares for every 100 Sanghi shares held.