Congress/news chronologies say Shree Cement was in talks for Sanghi, faced IT raids (June 2023), exited the race, and Adani-owned Ambuja then acquired Sanghi (Aug 2023). The raid was on a competing bidder—not Sanghi itself—so this is recorded with an explicit chronology note, not as a classic target-firm-after-raid acquisition.
2 events · 4 actors · 2 graph links · 4 source rows
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Raid / probe
Reported IT searches at Shree Cement locations while Shree was reportedly in talks to acquire Sanghi Industries.
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news · 2023-08-05 · confidence 70%
target firm
Sanghi Industries
agency
Income Tax Department
acquirer
Ambuja Cements (Adani)
other
Sanghi Industries