Ambuja Cements Limited has informed the Exchange about effectiveness of Scheme of Arrangement between Penna Cement Industries Limited (Transferor Company) and Ambuja Cements Limited (Transferee Company) and their respective shareholders.
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On the reaction day the stock moved 0.4 pts less than Nifty 100 and 0.4 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Scheme of Arrangement between Penna Cement Industries Limited and Ambuja Cements Limited has become effective from April 10, 2026, after the certified NCLT order was filed with the Registrar of Companies. Penna Cement has been amalgamated into Ambuja Cements and stands dissolved without winding up. The Appointed Date of the scheme is August 16, 2024, making the merger retroactive to that date. Shareholders of Penna Cement will receive cash consideration (not shares) as per the scheme terms. The NCLT had sanctioned the scheme on March 30, 2026, and this filing completes all conditions.
Ambuja Cements completes its acquisition of Penna Cement, expanding its cement manufacturing capacity. Penna Cement shareholders will receive cash payout, and Ambuja consolidates Penna's assets and operations onto its books from the August 2024 appointed date.