Ambuja Cements Limited has informed the Exchange about receipt of Observation Letter with no objection from the National Stock Exchange of India Limited in relation to the Scheme of Arrangement between Sanghi Industries Limited (Transferor Company) and Ambuja Cements Limited (Transferee Company) and their respective Shareholders
AMBUJACEM · price
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Awaiting price reaction for this filing.
Ambuja Cements has received a 'no objection' observation letter from NSE for its proposed merger with Sanghi Industries Limited under a Scheme of Arrangement. The scheme was first approved by Ambuja Cements' board on December 17, 2024, and has now cleared a key regulatory hurdle with NSE's approval under Regulation 37 of SEBI LODR. NSE/SEBI has imposed conditions including disclosure of pending litigation, financials not more than 6 months old, share exchange ratio details, NOC from lenders, and promoter/public shareholder reclassification. The observation letter is valid for 6 months from July 1, 2025, within which the scheme must be filed with NCLT. The deal still needs NCLT approval and consent from shareholders and creditors of both companies.
This is a positive regulatory step forward for Ambuja Cements' acquisition of Sanghi Industries, advancing the consolidation plan. Shareholders should monitor for the upcoming NCLT filing, the final share exchange ratio announcement, and eventual shareholder/creditor voting on the scheme.