Sanghi Industries: The two frontrunners are expected to start due diligence on the company soon and, if it is satisfactory, place formal offers over the next two months, they said.
Adani group-owned Ambuja-ACC and JK Lakshmi are the leading contenders for acquiring Sanghi Cement, according to sources. Ahmedabad-based Sanghi Cement is expected to be sold for an estimated enterprise value of INR60bn ($898m). The competing firms may conduct due diligence on the company soon and, if it is satisfactory, place formal offers over the next two months, said the sources.
Shree Cement exits race to buy Sanghi Cement financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Karsanbhai Patel is one of the leading businessmen in the country, and his rags-to-riches story while establishing Nirma detergent powder is nothing short of inspirational.
Lupin is reportedly considering a demerger of its active pharmaceutical ingredients (API) business, following in the footsteps of Glenmark Pharma. The specifics of the demerger, such as a potential listing or stake sale, are yet to be determined.