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JSW Cement will merge its listed subsidiary Shiva Cement with itself. Under the scheme of arrangement approved by the JSW Cement board, JSW Cement will issue five shares for every 41 Shiva Cement shares.
JSW Cement Ltd, part of the Sajjan Jindal-led JSW Group, will merge with its listed subsidiary Shiva Cement, a move that will create a "single unified cement platform" and unlock operational, financial and management synergies.The board of JSW Cement has approved a scheme of arrangement, including…
JSW Cement Ltd on Tuesday (September 29) said its board has approved a scheme of arrangement to merge listed subsidiary Shiva Cement Ltd with the company, with JSW Cement proposing to issue five equity shares for every 41 shares held by Shiva Cement shareholders other than JSW Cement.The scheme, ap…