NCLT Approves Amalgamation of Penna Cement into Ambuja Cements

NCLT approves scheme of amalgamation of Penna Cement into Ambuja Cements with appointed date 16 August 2024.
Shareholders approved the scheme with 99.9997% votes; minority shareholders to receive Rs. 321.50 per share in cash.
Ambuja Cements assumes all assets, liabilities, and legal proceedings of Penna Cement, subject to regulatory compliances.