Adani-owned Ambuja Cements has received approval from the National Company Law Tribunal (NCLT) for its merger with Sanghi Industries. The order, issued by the Ahmedabad bench of the tribunal, officially sanctions the scheme of arrangement between the two companies and their shareholders.
Ambuja Cements confirmed the approval in an official filing with the stock exchanges, noting that the appointed date for the merger is 1 April 2024. The merger will come into effect once all procedural requirements outlined in the scheme are completed. The company stated, “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.”
Following the NCLT approval, Ambuja Cements shares closed 2.5% higher at ₹542.70, up from the previous close of ₹529.45 on the NSE. Despite a 3.03% decline in 2026 so far, the stock has surged 6.31% over the past five sessions, reflecting positive market sentiment. Over a five-year period, investors have seen returns exceeding 100%, while three-year gains stand at 51%. The company’s stock reached a 52-week high of ₹624.95 on 22 July 2025 and a low of ₹455 on 3 March 2025. Ambuja Cements currently holds a market capitalization of over ₹1.34 trillion.
Sanghi Industries shares mirrored Ambuja’s positive trend, closing 2.53% higher at ₹64.02 compared to ₹62.44 previously. The stock has delivered over 65% returns over five years, with modest three-year gains of 3% and a 10% rise in the last one year. The company’s shares recorded a 52-week high of ₹70.40 on 22 July 2025 and a low of ₹50.58 on 3 March 2025. Sanghi Industries’ market capitalization stands at ₹1,653.80 crore.
The NCLT’s sanctioning of the Ambuja Cements-Sanghi Industries merger marks a pivotal step in consolidating India’s cement sector. Investors have responded positively, pushing the stock prices of both companies higher. With the appointed date set in 2024, market watchers will closely follow the completion of procedural steps and the full integration of the two firms.