Shiva Cement to merge with JSW Cement

Shiva Cement Limited's Board of Directors has approved a Scheme of Arrangement for the amalgamation of Shiva Cement Limited with JSW Cement Limited. The scheme also includes a reorganization of reserves for both companies. This restructuring aims to right-size Shiva Cement's financial statements to reflect its true financial position. The transaction is subject to shareholder and regulatory approvals, including from the National Company Law Tribunal. The appointed date for the amalgamation is April 01, 2026. JSW Cement currently holds 66.23% of Shiva Cement's equity share capital. The restructuring is not expected to result in any consideration or benefit to promoters or group companies, nor will it impact the shareholding pattern.