NCLT Clears Ambuja Cements and Sanghi Industries Merger

The National Company Law Tribunal (NCLT) has approved the merger of Sanghi Industries with Ambuja Cements, marking a key step in the Adani Group’s ongoing consolidation of its cement business and capacity expansion roadmap. 

Tribunal Approval and Merger Structure 

Ambuja Cements informed exchanges that the tribunal sanctioned the scheme of arrangement between Ambuja Cements and Sanghi Industries and their respective shareholders. The order was pronounced on February 9, 2026. 

As per the approved scheme, April 1, 2024, has been fixed as the appointed date. The merger will become operational after completion of procedural and legal steps specified in the scheme. 

“The Appointed Date of the Scheme is April 1, 2024. It will be effective upon completion of the steps, as laid out in the Scheme. We will update the exchanges once the Scheme becomes effective,” the company said in its filing. Under the swap arrangement, Sanghi Industries shareholders will receive 12 shares of Ambuja Cements for every 100 shares held. 

Part Of Wider Cement Consolidation Plan 

Ambuja Cements had earlier announced the merger as part of a broader restructuring exercise that also includes integration of other acquired cement assets. The company already holds a 58.08% stake in Sanghi Industries and had completed its acquisition for about ₹5,185 crore. 

The integration is aimed at simplifying the group structure, improving operational coordination, and strengthening scale efficiencies across manufacturing and distribution. 

Sanghi Industries operates clinker capacity of 6.6 MTPA and cement capacity of 6.1 MTPA, supported by large limestone reserves and a single-location manufacturing complex in Gujarat with captive infrastructure. 

Read More: Shareholders Lock In Expiry: JSW Cement, Groww and 5 Companies Shares Worth ₹8,600 crore Set to Free for Trade! 

Share Price Performance  

As of February 10, 2026, at 10:15 AM, Ambuja Cements share price is trading at ₹541.85 per share, reflecting a decline of 0.11% from previous closing price and Sanghi Industries share price is trading at ₹64.3 reflecting a decline of 0.22% from the previous closing price.  

Conclusion 

With NCLT approval in place, the Ambuja–Sanghi merger moves closer to completion, supporting the group’s plan to scale cement capacity and improve operating efficiencies through consolidation. 

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