Update on Scheme of Arrangement
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Jaipur Bench has sanctioned the Composite Scheme of Amalgamation and Arrangement between Udaipur Cement Works Ltd (UCWL), Hansdeep Industries & Trading Company Ltd, and Hidrive Developers and Industries Limited with JK Lakshmi Cement Ltd. The Scheme will become effective from 31st July 2025, subject to filing with the Registrar of Companies, Jaipur. The appointed date for the scheme is 1st April 2024. Shareholders of UCWL will receive 4 equity shares of JK Lakshmi Cement Ltd (face value INR 5) for every 100 equity shares held in UCWL (face value INR 4). The Record Date has been fixed as 25th August 2025. Upon effectiveness, UCWL will cease to exist as a separate listed entity and will cease to be a subsidiary of JK Lakshmi Cement Ltd. The amalgamation aims to consolidate the cement business into a single, focused entity.
UCWL shareholders will receive JK Lakshmi Cement shares in exchange for their UCWL holdings at the 100:4 ratio. Post-merger, UCWL will no longer trade as an independent listed entity; investors will effectively become shareholders of the larger, consolidated JK Lakshmi Cement Ltd. UCWL shares may see re-rating as the merger approaches effective date, but liquidity in UCWL stock may reduce as the effective date nears.