Ambuja Cements Limited has officially announced that the Scheme of Arrangement to acquire and amalgamate Penna Cement Industries Limited has become effective as of April 10, 2026. Following the approval from the National Company Law Tribunal, the transferor company stands dissolved, and shareholders are set to receive a predetermined cash consideration. This milestone marks the finalization of the integration process for the two cement entities.
Amalgamation Finalized
Following the receipt of the formal order from the National Company Law Tribunal on March 30, 2026, Ambuja Cements Limited has successfully completed the filing process with the Registrar of Companies. This regulatory milestone confirms that the Scheme of Arrangement with Penna Cement Industries Limited has officially come into effect as of April 10, 2026.
Integration and Operational Impact
With the effective date established, Penna Cement Industries Limited has now been fully amalgamated into Ambuja Cements Limited. As per the finalized scheme, the transferor company has been dissolved without being wound up. The official Appointed Date for this strategic integration has been set as August 16, 2024, formalizing the consolidation of operations between the two cement producers.
Shareholder Consideration
In accordance with the agreed terms, equity shareholders of Penna Cement Industries Limited who were recorded in the register of members on the Effective Date of April 10, 2026, are entitled to receive cash consideration. This payout will be executed in strict adherence to Clause 2.3.2 of the approved scheme, ensuring all contractual obligations to the shareholders are fulfilled following the dissolution of the transferor company.
Source: BSE
