Receipt of Observation Letter with "no objection" from the National Stock Exchange of India Limited in relation to the Scheme of Arrangement between Sanghi Industries Limited (Transferor ....
Awaiting price reaction for this filing.
Sanghi Industries Limited (SIL) has received a 'no objection' observation letter from the National Stock Exchange (NSE) for its proposed Scheme of Arrangement with Ambuja Cements Limited (ACL), where SIL is the transferor company and ACL is the transferee company. The scheme, originally approved by the Board on December 17, 2024, was filed under Sections 230-232 of the Companies Act, 2013. SEBI had already provided its comments on the draft scheme on July 15, 2025, and NSE's no objection is valid for six months from July 1, 2025, enabling the company to file the scheme with NCLT. The scheme still requires shareholder and creditor approvals, NCLT sanction, and other regulatory clearances before it can take effect. As both companies are part of the Adani Group, this is effectively a group-level consolidation of the cement business.
This is a positive procedural milestone for the merger, removing a key regulatory hurdle and bringing the scheme closer to NCLT filing. For Sanghi shareholders, the eventual outcome will depend on the share swap ratio and whether the deal terms are favourable, but the progression signals that the Adani Group's consolidation of its cement assets is moving forward as planned.