Ambuja Cements to hold shareholder meeting for Penna Cement merger

Ambuja Cements Limited announced a corrigendum to the National Company Law Tribunal (NCLT) order dated October 31, 2025, concerning its amalgamation scheme with Penna Cement Industries Limited. The NCLT, Ahmedabad Bench, issued a corrected order on November 19, 2025, primarily to rectify inadvertent clerical errors in the original directive.

The corrigendum confirms that Ambuja Cements is directed to convene a meeting of its equity shareholders via Video Conference/Other Audio Visual Means on Tuesday, December 30, 2025, at 11:00 a.m. IST, to consider and approve the proposed scheme. The cut-off date for determining eligibility of shareholders entitled to vote through remote e-voting and e-voting at the meeting is fixed as December 23, 2025.

Key details from the corrected order include that Penna Cement Industries has 9 equity shareholders holding 13,38,00,000 equity shares valued at Rs.133,80,00,000/-, with 99.96% consent obtained. Ambuja Cements, as of June 30, 2025, has 6,18,855 equity shareholders. The Transferee Company reported an excess of assets over liabilities of Rs.48,605.65 Crore as of March 31, 2025, and Rs.48,967.16 Crore as of June 30, 2025. No compromise is offered to unsecured creditors, and there are no secured or preference creditors in either company.