Approval of Scheme of Amalgamation of ACC Limited with Ambuja Cements Limited and Orient Cement Limited with Ambuja Cements Limited
AMBUJACEM · price
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The board of Ambuja Cements has approved a Scheme of Amalgamation to merge two listed cement companies, ACC Limited and Orient Cement Limited, into Ambuja Cements. This means ACC and Orient Cement shareholders will receive shares of Ambuja Cements in exchange for their holdings as per a swap ratio to be determined. The combined entity will become a much larger cement company under the Adani Group umbrella. The scheme will now be filed with the NCLT and other regulators for further approvals before it becomes effective. Shareholders will need to watch for the share swap ratio announcement and the timeline for completion.
This consolidation strengthens Ambuja Cements' market position significantly in the Indian cement industry, but existing shareholders will see their stake diluted due to share issuance. ACC and Orient Cement shareholders will become shareholders of Ambuja Cements post-merger.