Shiva Cement Boards Approve Amalgamation With Parent Company JSW Cement

The boards of directors of JSW Cement and its listed subsidiary Shiva Cement approved a scheme of arrangement to merge Shiva Cement into JSW Cement.

Under the approved share swap ratio, JSW Cement will issue 5 equity shares of ₹10 each for every 41 equity shares of ₹2 each held in Shiva Cement.

The transaction is expected to be completed within 12 to 14 months, subject to the timely receipt of regulatory approvals.