JK Lakshmi Cement Limited has informed the Exchange about Scheme of Arrangement
JKLAKSHMI · price
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JK Lakshmi Cement has received the certified copy of the NCLT Jaipur order (pronounced 12 June 2025) sanctioning the Composite Scheme of Amalgamation of three group companies into itself: Udaipur Cement Works Ltd (UCWL, listed 71.12% subsidiary), Hansdeep Industries & Trading Company Ltd (HITCL, unlisted wholly owned), and Hidrive Developers and Industries Ltd (HDIL, unlisted wholly owned). The scheme will be effective from 31 July 2025, with appointed date of 1 April 2024. Per the swap ratio, eligible UCWL shareholders will receive 4 equity shares of JK Lakshmi Cement (₹5 face value) for every 100 shares held in UCWL (₹4 face value). Record date for UCWL shareholders is 25 August 2025. No new shares will be issued for HITCL and HDIL since they are wholly owned. Upon effectiveness, UCWL, HITCL and HDIL will stand dissolved and cease to exist as subsidiaries.
This consolidation brings all cement operations under a single listed entity (JK Lakshmi Cement), which should help command better market multiples versus the previously fragmented structure and unlock operational and cost synergies. Existing JK Lakshmi Cement shareholders will see the company grow in scale with the merger; UCWL public shareholders will become shareholders of JK Lakshmi Cement at the 4:100 swap ratio.