JSW Cement announces merger with Shiva Cement

JSW Cement announces merger with its listed subsidiary Shiva Cement SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826

JSW Cement on Wednesday announced a scheme of arrangement involving the merger of its listed subsidiary Shiva Cement with itself, aimed at creating a single unified cement platform. Under the proposed scheme, JSW Cement will issue five equity shares of face value ₹10 each for every 41 equity shares of face value ₹2 each held in Shiva Cement by shareholders other than JSW Cement. The boards of both companies have approved the scheme, which is subject to approvals from the stock exchanges, the Securities and Exchange Board of India (Sebi), the National Company Law Tribunal (NCLT), Odisha Industrial Infrastructure Development Corporation, other applicable statutory and regulatory authorities, and shareholders and creditors, as required. The transaction is expected to be completed within 12-14 months, subject to receipt of the necessary approvals. JSW Cement said the merger would help consolidate financial, managerial, technical, distribution and marketing resources, while reducing administrative duplication and compliance requirements. All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24