Ambuja Cements Limited has informed the Exchange regarding Proceedings of Court Convened General Meeting held on December 30, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report.
AMBUJACEM · price
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Ambuja Cements held an NCLT-convened meeting of equity shareholders on December 30, 2025, to approve its Scheme of Arrangement with Penna Cement Industries Limited (Transferor Company). The resolution was passed with overwhelming support — 99.9997% of valid votes (223.84 crore shares) voted in favour, with only 6,221 shares (0.0003%) voting against. Promoter and Promoter Group (holding 167.21 crore shares, 67.68% of paid-up capital), Public Institutions, and Public Non-Institutions all voted predominantly in favour. The meeting was chaired by Hon'ble Justice (Retd.) Kalpesh Jhaveri, appointed by NCLT. The scheme now moves to the next stage of NCLT and regulatory approvals.
This shareholder approval is a key milestone in Ambuja's acquisition of Penna Cement Industries, paving the way for NCLT sanction and eventual integration. Positive for shareholders as it confirms management's consolidation strategy in the cement sector, though final completion still depends on remaining regulatory approvals.