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Orient Cement Ltd. ( (IN:ORIENTCEM) ) just unveiled an update.
Orient Cement Limited’s board has approved a Scheme of Amalgamation to merge the company into its parent, Ambuja Cements Limited, under Sections 230 to 232 of the Companies Act, 2013. The transaction, which qualifies as a related-party deal because Orient is a subsidiary of Ambuja, is based on an arm’s-length share-exchange ratio supported by an independent joint valuation and a fairness opinion from SBI Capital Markets. The merger remains subject to a series of statutory and regulatory clearances, including approvals from stock exchanges and the National Company Law Tribunal, and is expected to simplify group structure and potentially enhance operational and financial integration within the Adani-controlled cement portfolio.
More about Orient Cement Ltd.
Orient Cement Limited is an Indian cement manufacturer focused on producing and selling cement and related building materials, operating as a subsidiary of Ambuja Cements Limited. The company serves the domestic infrastructure and construction markets, leveraging its regional manufacturing presence to supply cement across key growth corridors in India.
Average Trading Volume: 29,235
Technical Sentiment Signal: Sell
Current Market Cap: 33.25B INR
Learn more about ORIENTCEM stock on TipRanks’ Stock Analysis page.