JK Lakshmi Cement Gets Go-Ahead For Amalgamation Plan
Cement

JK Lakshmi Cement Gets Go-Ahead For Amalgamation Plan

Leading bourses NSE and BSE have given consent to the merger of three subsidiaries into JK Lakshmi Cement. As per the scheme of amalgamation, three subsidiaries namely Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries are getting merged into JK Lakshmi Cement. "We would like to inform you that BSE and NSE vide their letters dated 1st January 2025, have issued their Observation Letters as required under Regulation 37 of the Listing Regulations with 'No adverse observation'/ 'No objection', to the proposed scheme," JK Lakshmi Cement said in a BSE filing. On July 31, 2024, the board of JK Lakshmi Cement had approved the amalgamation scheme, which will simplify the group structure and make it more commercially meaningful to have one combined entity focused in the business of cement and cement products. For Udaipur Cement Works Ltd (UCWL), its shareholders will receive four shares of JK Lakshmi Cement for every 100 shares they hold in the company. Giving the go-ahead, bourses have directed the parties to disclose all details about the companies before the Jaipur Bench of the National Company Law Tribunal. The company shall also ensure that the financials in the scheme, including financials considered for valuation reports, are not for periods more than 6 months old.According to the latest annual report of JKLC, its strategic plan includes brownfield and greenfield expansions with the aim of increasing capacity to 30 MTPA by 2030. To achieve this, it has ongoing strategic expansion projects totalling 10.80 MTPA, scheduled for completion by FY27.

Leading bourses NSE and BSE have given consent to the merger of three subsidiaries into JK Lakshmi Cement. As per the scheme of amalgamation, three subsidiaries namely Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries are getting merged into JK Lakshmi Cement. We would like to inform you that BSE and NSE vide their letters dated 1st January 2025, have issued their Observation Letters as required under Regulation 37 of the Listing Regulations with 'No adverse observation'/ 'No objection', to the proposed scheme, JK Lakshmi Cement said in a BSE filing. On July 31, 2024, the board of JK Lakshmi Cement had approved the amalgamation scheme, which will simplify the group structure and make it more commercially meaningful to have one combined entity focused in the business of cement and cement products. For Udaipur Cement Works Ltd (UCWL), its shareholders will receive four shares of JK Lakshmi Cement for every 100 shares they hold in the company. Giving the go-ahead, bourses have directed the parties to disclose all details about the companies before the Jaipur Bench of the National Company Law Tribunal. The company shall also ensure that the financials in the scheme, including financials considered for valuation reports, are not for periods more than 6 months old.According to the latest annual report of JKLC, its strategic plan includes brownfield and greenfield expansions with the aim of increasing capacity to 30 MTPA by 2030. To achieve this, it has ongoing strategic expansion projects totalling 10.80 MTPA, scheduled for completion by FY27.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?