Ambuja Cements board approves Adani Cementation's merger with company

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Ambuja Cements board approves Adani Cementation's merger with company - Business Standard

Quick Summary:

Adani group-owned Ambuja Cements on Thursday said its board has approved the merger of Adani Cementation, which is now a subsidiary of Adani Enterprises.

The scheme has a "SWAP ratio of 174 shares of Ambuja Cements Ltd for every 1 share of Adani Cementation Ltd (ACL)," it said.

The merger is totally based on share swapping and Adani Enterprises will get 8.7 million shares of Ambuja Cements.