Ambuja Cements-Adani merger gets nod from bourses

Mumbai: Ambuja Cements Ltd has received an observation letter with ‘no objection’ from the National Stock Exchange (NSE) and ‘no adverse observations’ from Bombay Stock Exchange (BSE) with regards to merger with Adani Cementation Ltd.

The proposal for a merger between Adani Cementation and Ambuja Cements had received approval from the board in June 2024. According to the stock exchange circular on January 1, “the Scheme remains subject to various statutory and regulatory approvals and of the respective shareholders and creditors (where applicable) of the companies involved in the scheme.”

“Based on the draft scheme and other documents submitted by the Company, including undertaking given in terms of Regulation 11 of SEBI Regulations, 2015, we hereby convey our “No objection in terms of Regulation 37 of Sebi Regulations, 2015, to enable the Company to file the draft scheme with NCLT,” read the circular.