Sanghi Industries Ltd. promoters Ambuja Cements Ltd. and Ravi Sanghi will sell up to 3.52% stake in the open market via the offer-for-sale route. The Adani Group company plans to offload up to 60.9 lakh shares, representing 2.36% equity, and Ravi Sanghi will offer up to 30 lakh shares or 1.16%.
The floor price for the OFS has been set at Rs 90 per share. The issue will open on June 26 for non-retail investors and on June 27 for retail investors on the BSE and NSE, according to an exchange filing on Tuesday.
Ravi Sanghi held 2.1% stake in the Saurashtra-based cement-maker, while Ambuja Cements owned 60.44%, as of March.
Following the OFS, the total promoter shareholding in Sanghi Industries will dip from 78.52% to 75%—meeting Indian capital market norms of having at least 25% equity in free-float.
In March, Ambuja Cements offloaded 2% stake in Sanghi Industries.
The Adani Group acquired Sanghi Industries in an all-cash deal in August, valuing the company at an enterprise value of Rs 5,000 crore.
Sanghi Cement, a brand owned by Sanghi Industries, was incorporated in 1985. It has a grinding capacity of 6.1 million tonne per annum and a clinker capacity of 6.6 million tonne per annum.
Shares of Sanghi Industries closed 1.62% lower at Rs 102.26 apiece, as compared with a 0.92% advance in the benchmark S&P BSE Sensex.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Comprehensive Budget 2026 coverage, LIVE TV analysis, Stock Market and Industry reactions, Income Tax changes and Latest News on NDTV Profit.