Ambuja Cements has issued a formal clarification regarding recent media reports concerning the merger with Penna Cement Industries. The company confirms that the National Company Law Tribunal officially sanctioned the scheme on March 30, 2026. Ambuja Cements emphasized that all significant developments throughout the merger process have been transparently disclosed to investors, ensuring no material impact resulting from the recent media coverage.
Merger Process Milestone
Following recent media coverage, Ambuja Cements has clarified the status of its acquisition of Penna Cement Industries. The company confirmed that it successfully filed a Scheme of Arrangement, which has now received formal sanction through an order pronounced on March 30, 2026. This follows a rigorous process of judicial review and stakeholder engagement that has been ongoing for over a year.
History of Disclosure
Ambuja Cements has maintained a consistent record of transparency regarding this strategic merger. Key milestones shared with the public and stakeholders include:
- December 17, 2024: Initial Board approval for the merger scheme.
- April 30, 2025: Receipt of ‘No Objection’ certificates from the relevant stock exchanges.
- November 2, 2025: Court-directed meeting scheduled for equity shareholders.
- December 30, 2025: Successful conclusion of the shareholder meeting and publication of positive voting results.
Strategic Outlook
By securing the final order, Ambuja Cements moves forward with its growth strategy. The company reiterated that all relevant updates regarding the Penna Cement merger were shared in a timely manner. Consequently, the company maintains that recent media reports do not carry any new information that would cause a material impact on its existing business or valuation.
Source: BSE
