Orient Cement Limited has informed the Exchange about Receipt of Observation Letters with "no adverse objection" from the BSE Limited and "no objection" from the National Stock Exchange of India Limited in relation to the Scheme of Amalgamation of Orient Cement Limited ("Transferor Company") with Ambuja Cements Limited ("Transferee Company").
ORIENTCEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Orient Cement has received 'no adverse objection' from BSE and 'no objection' from NSE for its proposed Scheme of Amalgamation with Ambuja Cements Limited. Under the scheme, Orient Cement (the Transferor Company) will merge into Ambuja Cements (the Transferee Company), a large listed cement company. The stock exchange observations are a key regulatory milestone, typically obtained before the scheme is filed with the National Company Law Tribunal (NCLT) for approval. Shareholders will get further details on the share exchange ratio and other terms in the scheme document.
Positive step for Orient Cement shareholders as the merger process is moving forward with stock exchange approval. If completed, OCL shareholders will become shareholders of Ambuja Cements, a much larger and more liquid listed entity. The share exchange ratio and NCLT approval timeline will be the next key triggers to watch.