Sub: Disclosure under Regulation 30 and other applicable provisions under
SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended (“SEBI (LODR) Regulations”).
This is to inform you that the board of directors of the Sanghi Industries Limited
(“Company”) met today (i.e., August 3, 2023) and inter alia approved the execution
of the share purchase agreement dated August 3, 2023 (“SPA”) amongst the (a)
Company, (b) certain members of the promoter/ promoter group of the Company
(whose names are set out in the Annexure, “Sellers”), and (c) Ambuja Cements
Limited (“Acquirer”). Pursuant to the SPA, the Acquirer proposes to acquire upto
14,65,78,491 equity shares of the Company (“Sale Shares”) representing 56.74 % of
the equity share capital of the Company, for a consideration of upto INR 114.22 per
Sale Shares (“Proposed Transaction”) subject to the terms and conditions mutually
agreed between the parties and recorded in the SPA. As a result of the Proposed
Transaction, the Acquirer will be required to make an open offer in accordance with
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI
(SAST) Regulations”). Subsequent to the board approval, the Company has
executed the SPA.”
Open offer triggered…
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