Sanghi Family Sells Stake to Ambuja Cements in 2023 Adani Deal

1 articles · Updated · Bloomberg · Sep 22

Alok Sanghi’s family exited Sanghi Industries by selling its stake to Ambuja Cements, extending a broader trend of wealthy Indian heirs cashing out inherited operating businesses.
The sale followed an earlier 2023 transaction in which Ambuja—controlled by Gautam Adani—bought a majority stake in the cement maker founded by Sanghi’s father more than four decades ago.
Alok Sanghi had worked in the family cement business before the exit, underscoring how some next-generation heirs are shifting from running legacy companies to managing family wealth instead.
The deal highlights consolidation in India’s cement sector while illustrating how inheritance is increasingly being monetized rather than preserved through direct family control.