JSW Cement Clears Amalgamation of Subsidiary Shiva Cement
What Happened
JSW Cement and Shiva Cement have approved a merger scheme under which Shiva Cement shareholders will receive 5 JSW Cement shares for every 41 Shiva Cement shares held. No cash consideration will be paid. The merger, subject to shareholder, regulatory and NCLT approvals, aims to simplify the group structure and integrate Shiva Cement's clinker manufacturing operations into JSW Cement.
Key Takeaways
The merger will strengthen JSW Cement's backward integration through Shiva Cement's 1.32 MTPA clinker plant in Odisha, helping improve supply-chain efficiency and reduce procurement costs.