NCLT Directs Meetings for ACC and Ambuja Cements Amalgamation

NCLT Directs Meetings for ACC and Ambuja Cements Amalgamation​

The National Company Law Tribunal (NCLT) has directed the convening of meetings for the equity shareholders of ACC Limited and Ambuja Cements Limited regarding their proposed Scheme of Amalgamation. The meetings are scheduled to be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM) on September 29, 2026.

The Tribunal issued directions after reviewing the company application concerning the integration of ACC Ltd. (Amalgamating Company) with Ambuja Cements Limited (Amalgamated Company). The purpose of these meetings is to consider and approve the proposed Scheme, with or without modifications.

Key Dates and Meeting Details


Financial Status and Creditor Provisions

During the proceedings, the companies submitted detailed reports regarding their financial standing as of March 31, 2026 (ACC Ltd.) and April 10, 2026 (Ambuja Cements Ltd.). The Tribunal noted that neither company had any secured creditors.

For ACC Limited, the submission indicated a standalone excess of assets over liabilities amounting to Rs.20,416.35 Crore, despite having 1,38,007 unsecured creditors with a total outstanding debt of Rs.4950.67 Crore as of March 31, 2026. The company reported 2,35,988 Equity Shareholders as on the date of submission.

Ambuja Cements Limited showed a standalone excess of assets over liabilities amounting to Rs.52,558.01 Crore. As of March 31, 2026, the Amalgamated Company had 91,186 unsecured creditors with a total outstanding debt of Rs.12,339.70 Crore.

Rationale for Amalgamation

The applicant companies provided several reasons for the merger, stating that the amalgamation is essential to drive focused growth and operational efficiencies within the cement industry. The process aims to unify manufacturing and commercial functions across both entities.

The Companies submitted that pooling financial, operational, and logistical resources would unlock economies of scale. This integrated approach will lead to stronger operations discipline, faster decision-making, and ultimately boost profitability and deliver superior long-term value to all stakeholders.

In addition to the meetings, the Tribunal directed the companies to adhere to specific procedural requirements for public shareholder voting and notice dispensation for unsecured creditors, given that no compromise or arrangement is being offered to these groups in relation to the Scheme.

ACC Stock Price Movement​

ACC Limited shares gained 2.1% in post-market trading today, settling at ₹1370.80 after climbing throughout the session. The equity recorded robust movement, with the stock completing its day's trade on a volume of 300,540 shares.