Leading stock exchanges have approved the merger of three subsidiaries into a major cement company. Under the amalgamation scheme, the three subsidiaries are being integrated into one consolidated entity focused on cement and cement-related products.

The exchanges issued observation letters under the Listing Regulations with no objections to the proposed scheme. The merger had earlier been approved by the company’s board, with the aim of simplifying the group structure and creating a commercially stronger single entity.

Under the terms of the merger, shareholders of one of the subsidiaries will receive a proportionate number of shares in the combined company. The stock exchanges have also directed the parties to disclose all necessary details before the National Company Law Tribunal.

The merged entity has ongoing strategic expansion projects totaling 10.80 MTPA, which are scheduled for completion by FY27.

https://www.livehomes.in/news_letter