Ambuja Cements Announces Effective Date of Scheme of Arrangement with Penna Cement Industries Limited
Ambuja Cements Limited confirmed the effective date of the Scheme of Arrangement involving Penna Cement Industries Limited and Ambuja Cements Limited. The Scheme was sanctioned by the Hon'ble National Company Law Tribunal, Ahmedabad Bench, via an order issued on March 30, 2026.The company reported that the certified copy of the NCLT Order was filed with the Registrar of Companies, Ahmedabad, Gujarat, on April 10, 2026. This filing marks the compliance of both Ambuja Cements Limited and the Transferor Company with all conditions outlined in Clause 3.3 of the Scheme.
Accordingly, the Scheme became effective on April 10, 2026. Following this, the Transferor Company stands amalgamated with Ambuja Cements Limited and is dissolved without being wound up. The Appointed Date specified in the Scheme remains August 16, 2024.
Under the terms of the Scheme and subsequent to its effectiveness, equity shareholders of Penna Cement Industries Limited whose names appear in the Transferor Company's Register of Members as of the Effective Date, April 10, 2026, will receive cash consideration as stipulated under Clause 2.3.2 of the Scheme.
AMBUJACEM Stock Price Movement
On Friday, Ambuja Cements Limited shares edged higher, settling at ₹445.2, marking a gain of 2.75%. The stock recorded substantial activity, trading on a total volume of 3.58 million shares during the session.Source:
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