Ambuja Cements Limited has received observation letters with 'no adverse observations' from BSE and a 'no objection' from the National Stock Exchange of India for the proposed amalgamation of ACC Limited with Ambuja Cements. The stock exchanges issued their clearance on June 04, 2026, following SEBI's comments on the draft scheme dated June 03, 2026.
Ambuja Cements' board approved the amalgamation scheme on December 22, 2025. Under the scheme, ACC Limited will merge into Ambuja Cements Limited, consolidating two Adani Group cement entities.
SEBI directed that the arrangement comply with Regulation 11 of SEBI Listing Regulations. SEBI required disclosure of all ongoing adjudication and recovery proceedings against ACC, Ambuja Cements, their promoters, and directors before the NCLT and shareholders. Additional information submitted after filing the scheme must be displayed on company websites and stock exchanges.
The entities cannot make changes to the draft scheme after filing with SEBI except those mandated by regulators. Financials considered in the scheme must not be more than six months old. Any equity shares issued under the scheme must be in demat form only. The observation letter is valid for six months, within which the scheme must be submitted to the NCLT.
The explanatory statement to shareholders must include a simple explanation of the scheme, rationale and objectives, impact on shareholders including any dilution, a cost-benefit analysis, and latest financials of both entities not older than six months. The observation letters from BSE and NSE will be available on Ambuja Cements' website. The scheme remains subject to statutory and regulatory approvals and the approval of shareholders and creditors.
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.