Deals4 Jun 2026, 07:41 pm
Orient Cement Receives No Objection for Amalgamation Scheme
AI Summary
Orient Cement Ltd has received 'no adverse objection' letters from BSE and 'no objection' from NSE regarding its proposed Scheme of Amalgamation with Ambuja Cements Ltd. This follows the Board's approval of the scheme under Sections 230-232 of the Companies Act, 2013. The scheme is still subject to further statutory, regulatory, and shareholder/creditor approvals. SEBI has provided specific comments on the draft scheme, emphasizing disclosure of ongoing proceedings, website updates, compliance with master circulars, and ensuring financials are not older than six months. The observation letters will be available on the company's website.
Key Highlights
- BSE and NSE have issued no objection letters for the amalgamation scheme.
- Scheme involves amalgamation of Orient Cement with Ambuja Cements.
- Further regulatory and shareholder approvals are still required.
- SEBI has provided specific conditions for scheme approval.
- The scheme remains subject to various statutory compliances.
Price Impact
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