Acquisitions23 Apr 2025, 01:12 am
Ambuja Cements Completes 46.66% Acquisition in Orient Cement, Open Offer Obligations Pending
AI Summary
Ambuja Cements Ltd has completed the acquisition of 46.66% of the existing share capital of Orient Cement Ltd (OCL) pursuant to the Share Purchase Agreements (SPAs). The acquisition includes 9,58,73,163 equity shares constituting 46.66% of OCL's existing share capital. Post the acquisition, OCL's paid-up share capital has increased from Rs. 20,51,09,897 to Rs. 20,54,59,873. The company is yet to undertake necessary actions in compliance with its obligations under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in relation to the Open Offer.
Key Highlights
- Ambuja Cements completes acquisition of 46.66% of Orient Cement's existing share capital
- Acquisition includes 9,58,73,163 equity shares of OCL
- Post-acquisition, OCL's paid-up share capital increases to Rs. 20,54,59,873
- Company to undertake necessary actions in compliance with SEBI regulations for Open Offer
- Orient Cement had allotted 3,49,976 equity shares to employees pursuant to the Employees Stock Option Scheme 2015