Ambuja Cements Limited has informed the Exchange regarding 'Sanction of Scheme of Amalgamation of Adani Cementation Limited (Transferor Company) with the Ambuja Cements Limited (Transferee Company).
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The NCLT Ahmedabad has sanctioned the scheme of amalgamation of Adani Cementation Limited (a wholly owned subsidiary of Adani Enterprises Limited) into Ambuja Cements Limited, with the order pronounced on 18th July 2025. The appointed date of the scheme is 1st April 2024, and it will become effective once all formal steps are completed. Under the scheme, Adani Cementation's cement manufacturing business, including its subsidiary Adani Cement Industries Limited and a limestone mining lease with about 275 million tonnes of resources, will be absorbed into Ambuja Cements. The share swap ratio is 1:174, valuing Adani Cementation at approximately Rs. 580 crores. Ambuja Cements' equity shareholders had already unanimously approved the scheme on 2nd May 2025.
This is an internal Adani group consolidation that brings cement manufacturing capacity and limestone mine assets under Ambuja Cements, which could strengthen its production base and resource security. Since Adani Cementation is not a listed entity and the merger is within the group, no open offer is triggered and direct financial impact on Ambuja shareholders is limited, though share dilution from the swap ratio will be marginal.