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Informist, Monday, Mar. 30, 2026

 

--NCLT Ahmedabad approves Penna Cement Industries' merger with Ambuja Cements

 

NEW DELHI – The Ahmedabad bench of the National Company Law Tribunal Monday approved Penna Cement Industries Ltd.'s merger with Ambuja Cements Ltd., an Adani Group company. The bench of judicial member Shammi Khan and technical member Sanjeev Sharma said the merger scheme is "allowed". According to the merger scheme, Penna Cement Industries shall stand dissolved without being wound up and without any further act or deed. 

 

As both the companies are under the same line of business, the amalgamation will enable Ambuja Cements to absorb the business of Penna Cement completely for carrying on more effectively and beneficially, stated the scheme of amalgamation. The merger will enable Penna Cement to integrate into Ambuja Cements' operations, leading to more efficient and economical business management, said the scheme. 

 

The amalgamation will enhance business potential of Ambuja Cements, add value to both the companies, and ultimately increase the shareholders' value, said the merger documents. The amalgamation will lead to reduction and rationalisation of multiple entities in the group, said the merger scheme.

 

Penna Cement, a subsidiary of Ambuja Cements, is involved in the business of manufacturing and selling of cement and related products. Ambuja Cements deals with manufacturing and dealing in grey cement, white portland cement, ordinary portland cement and cement of all kinds and varieties. 

 

At 1045 IST, shares of Ambuja Cements traded nearly flat at INR 408.80 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Surya Tripathi

Edited by Akul Nishant Akhoury

 

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