Overview
- The Ahmedabad bench of the National Company Law Tribunal sanctioned the scheme of amalgamation on July 18 with effect from April 1, 2024.
- Under the share-swap arrangement, Adani Enterprises Ltd. will receive 8.7 million shares of Ambuja Cements.
- Ambuja Cements has been directed to fully comply with SEBI and stock exchange regulations on disclosures and governance.
- The merger consolidates limestone reserves of about 275 million tonnes at Lakhpat, Gujarat, and integrates planned production at the Raigad, Maharashtra plant.
- Ambuja Cements will operate over 100 MTPA capacity and aims to reach 118 MTPA by FY 2026 and 140 MTPA by FY 2028 through brownfield expansions.