Ambuja Cements and Ravi Sanghi to Offload Stake in Sanghi Industries
Ambuja Cements and Ravi Sanghi plan to sell a 3.52% stake in Sanghi Industries. The Offer-for-Sale will open for non-retail investors on Wednesday and for retail investors on Thursday. The move is expected to fetch Rs 93.05 crore based on current market prices.
- Country:
- India
In a significant development in the cement industry, Ambuja Cements and Ravi Sanghi, promoters of Sanghi Industries, have announced plans to sell a 3.52% stake in the Saurashtra-based manufacturer.
The Offer-for-Sale (OFS) is set to commence on Wednesday for non-retail investors, followed by retail investors on Thursday, according to a regulatory filing from Sanghi Industries on Tuesday evening.
The proposed sale involves up to 90,92,000 equity shares, representing 3.52% of Sanghi Industries' total issued and paid-up equity share capital. Based on current market prices, this initiative is poised to generate approximately Rs 93.05 crore.
Google News