Ambuja Cements Limited has informed the Exchange about Receipt of Observation Letters with "no adverse objection" from the BSE Limited and "no objection" from the National Stock Exchange of India Limited in relation to the Scheme of Amalgamation of Orient Cement Limited ("Transferor Company") with Ambuja Cements Limited ("Transferee Company").
AMBUJACEM · price
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Ambuja Cements has received 'no adverse objection' from BSE and 'no objection' from NSE regarding its proposed amalgamation with Orient Cement Limited. This is a key regulatory milestone in the merger process, where Orient Cement (the transferor company) will merge into Ambuja Cements (the transferee company). The next step would typically involve filing the scheme with the NCLT for approval. The deal consolidates another cement company under the Aditya Birla Group's cement arm.
This is a positive development for the merger timeline, moving the amalgamation closer to completion. Once finalized, Ambuja Cements will absorb Orient Cement's operations and assets, expanding its cement capacity. Shareholders should watch for the share swap ratio announcement and NCLT approval in the coming months.