Adani was one of the frontrunners in the race to acquire Sanghi, which was valued at the same enterprise value.On the other hand, Sanghi Industries is a prominent cement manufacturer based in the state of Gujarat in western India.One of the sources mentioned that the deal was based on Sanghi's enterprise value of Rs 60 billion.Adani currently holds the position of India's second-largest cement producer, just behind UltraTech Cement.This acquisition is expected to strengthen the cement operations of billionaire Gautam Adani's firm.
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