Ambuja Cements and Ravi Sanghi plan to sell a combined 3.52% stake in Sanghi Industries through an OFS at ₹90 per share.
Ambuja Cements, an Adani Group company, and Ravi Sanghi, former chairman of Sanghi Industries, plan to sell a combined 3.52% stake in Sanghi Industries through an offer for sale (OFS). The two-day OFS, with a floor price of ₹90 per share, is set to open for non-retail investors on June 26 and retail investors on June 27. This move is in line with Ambuja Cements' intention to divest up to 2% stake to meet minimum public shareholding norms.
June 25, 2024
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