Adani Enterprises' subsidiary Adani Cementation merges with Ambuja Cements through a share swap.
Adani group's Ambuja Cements board has approved the merger of Adani Cementation, a subsidiary of Adani Enterprises, with the company. The merger is based on a share swap and will make Adani Cementation a wholly-owned subsidiary of Ambuja Cements. The move aims to enhance operational efficiency and strengthen Ambuja Cements' coastal footprint. Adani Enterprises will receive 8.7 million shares of Ambuja Cements.
June 27, 2024
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