Merger29 Sept 2026, 07:30 pm
Shiva Cement to merge with JSW Cement
AI Summary
Shiva Cement Limited announced that its Board of Directors has approved a Scheme of Arrangement for its amalgamation with JSW Cement Limited. The scheme, subject to shareholder and regulatory approvals including the National Company Law Tribunal, involves the merger of Shiva Cement into JSW Cement and reorganization of reserves. The restructuring aims to right-size Shiva Cement's financial statements. The company's retained earnings debit balance of ₹133.92 crore will be adjusted against its Securities Premium Account. JSW Cement holds 66.23% of Shiva Cement's equity. The appointed date for the scheme is April 1, 2026. The board meeting concluded on September 29, 2026.
Key Highlights
- Shiva Cement to amalgamate with JSW Cement.
- Scheme requires shareholder and NCLT approval.
- Restructuring aims to improve financial statement accuracy.
- No consideration or benefit to promoters from reserve reorganization.
- JSW Cement is the majority shareholder in Shiva Cement.
Price Impact
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