JSW Cement board approves merger of subsidiary Shiva Cement
JSWCEMENT · price
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JSW Cement board approved merger of 66.23% subsidiary Shiva Cement (SCL) into itself. Swap ratio: 5 JSW Cement shares per 41 SCL shares, no cash. SCL runs a 1.32 mtpa clinker plant in Odisha. FY26 turnover INR 435 crore, net worth negative INR 30 crore. Post-merger, promoter share in JSW Cement drops to 71.39 percent from 72.02 percent, public rises to 27.67 percent. Subject to NCLT and shareholder approval. Aims at clinker backward integration, cost savings.
Streamlines JSW group structure, secures clinker supplies for cement making, brings in SCL Odisha plant. Promoter holding dips slightly.