The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation with Ambuja Cements, clearing the way for the Adani Group to streamline its cement operations under a single entity.
The order has allowed Ambuja Cements to absorb all assets, operations, and liabilities of Adani Cementation. This consolidation includes project sites, licences, and ongoing developments, all of which will now be managed directly by Ambuja, according to an official statement.
As part of the merger, Adani Enterprises will receive 8.7 million equity shares of Ambuja Cements, reflecting the share swap agreed in the group’s internal restructuring announced in June 2024.
The NCLT bench confirmed that no further agreements or approvals are necessary to complete the transfer, with all existing rights and obligations of Adani Cementation automatically transferring to Ambuja.
However, Ambuja must comply with regulations set by market regulator SEBI and relevant stock exchanges including BSE, NSE, and the Luxembourg Stock Exchange, where its global depository receipts (GDRs) are listed.
The merger will reduce duplicate processes and improve coordination across business units, granting Ambuja access to additional resources without further regulatory hurdles, company officials stated.
The merger will also enable Ambuja to begin work immediately at Adani Cementation’s existing project sites which include large limestone reserves in Lakhpat in Gujarat, which is estimated at 275 million tonnes, as well as a planned cement facility at Raigad in Maharashtra, company officials stated.