Adani Enterprises Limited has informed the Exchange regarding 'Scheme of amalgamation of Adani Cementation Limited, a wholly owned subsidiary ofAdani Enterprises Limited (the Company ) with Ambuja Cements Limited'.
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The NCLT Ahmedabad has sanctioned the scheme of amalgamation of Adani Cementation Limited (a wholly owned subsidiary of Adani Enterprises) with Ambuja Cements Limited on 18th July 2025, with an appointed date of 1st April 2024. Adani Cementation, which holds a limestone mine with about 275 million tonnes of resources in Lakhpat, Gujarat, and proposes a grinding unit in Raigad, Maharashtra, is valued at approximately Rs. 580 crores. The share swap ratio has been fixed at 1:174 (i.e., 1 share of Adani Cementation for 174 shares of Ambuja Cements), based on valuations done by Grant Thornton and another registered valuer. Equity shareholders of Ambuja Cements had already unanimously approved the scheme on 2nd May 2025. The scheme will become effective once the remaining procedural steps (such as filing with the Registrar of Companies) are completed.
This is an internal group-level restructuring that consolidates the Adani Group's cement business under the listed entity Ambuja Cements, which is expected to improve manufacturing capacity and operational efficiency. There is no direct share issuance to Adani Enterprises shareholders since the merger is between its subsidiary and Ambuja Cements, but it simplifies the group structure and removes an intermediate holding layer.