ACC Limited has received observation letters with no adverse observations from BSE and a no-objection from NSE for its proposed amalgamation with Ambuja Cements Limited. The stock exchanges issued the letters on June 4, 2026.
The board of ACC approved the scheme on December 22, 2025. Under the scheme, ACC will merge into Ambuja Cements.
SEBI, in its comments dated June 3, 2026, directed ACC and Ambuja to disclose details of any ongoing proceedings against the companies, promoters, and directors before the NCLT and shareholders. The companies must not make changes to the draft scheme except those mandated by regulators. The financials considered in the scheme must not be more than six months old. Any additional information submitted after filing must be displayed on the companies' websites.
ACC must provide shareholders an explanatory statement covering the scheme's rationale, objectives, impact on shareholders including any dilution or change in rights, and a cost-benefit analysis. The disclosure must include the latest financials of both companies not older than six months and promoter-wise shareholding details before and after the scheme.
The scheme remains subject to statutory and regulatory approvals and approval from shareholders and creditors. The observation letters have been posted on ACC's website. The NSE observation letter is valid for six months from June 4, 2026, within which the scheme must be filed with the NCLT. The BSE observation noted it has no adverse observations with reference to matters bearing on listing and continuous listing requirements.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.