Shiva Cement to merge with parent JSW Cement
JSW Cement has received board approval to merge its subsidiary, Shiva Cement, into its primary operations. The deal involves a share swap ratio and is expected to be finalized within 12 to 14 months pending regulatory approval.
Why it matters
Corporate consolidation in the cement sector often signals efforts to improve operational efficiency and market competitiveness.
The Boards of Directors of JSW Cement Ltd and its listed subsidiary, Shiva Cement Ltd, have approved a scheme of arrangement involving the amalgamation of Shiva Cement with and into JSW Cement.
JSW Cement will issue 5 equity shares (face value ₹10 each) for every 41 equity shares (face value ₹2 each) held in Shiva Cement to the shareholders of Shiva Cement (other than JSW Cement) under the approved swap ratio.
The transaction is expected to be completed within 12-14 months, subject to timely receipt of regulatory approvals.
Nilesh Narwekar, CEO of JSW Cement, said, “The proposed merger is a strategic step towards creating a more integrated and efficient business.”
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