JK Lakshmi Cement Limited has informed the Exchange about intimation regarding Order of NCLT, Jaipur Bench.
JKLAKSHMI · price
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The NCLT Jaipur Bench has sanctioned the Composite Scheme of Amalgamation and Arrangement on June 12, 2025, under which three group companies — Udaipur Cement Works Ltd. (UCWL), Hansdeep Industries & Trading Company Ltd. (HITCL), and Hidrive Developers & Industries Ltd. (HDIL) — will merge into JK Lakshmi Cement Ltd. UCWL is a 71.12% listed subsidiary, while HITCL and HDIL are wholly-owned unlisted subsidiaries of JK Lakshmi Cement. As per the swap ratio, shareholders of UCWL will receive 4 equity shares of JK Lakshmi Cement (face value INR 5) for every 100 shares held in UCWL (face value INR 4); no new shares will be issued for HITCL and HDIL since they are wholly owned. The appointed date for the scheme is April 1, 2024, and it becomes effective only after filing the certified NCLT order with the Registrar of Companies. Once effective, the three transferor companies will be dissolved and cease to exist as subsidiaries of JK Lakshmi Cement.
This is a positive structural move for shareholders — consolidating the group's cement business into a single listed entity is expected to unlock better market valuations, reduce compliance costs, and create operational synergies. UCWL shareholders will receive JK Lakshmi Cement shares as per the swap ratio, while existing JK Lakshmi Cement holders benefit from a larger, more streamlined company.