Displaying items by tag: demerger

India: The National Company Law Tribunal (NCLT) has approved the demerger and transfer of Vinay Cement’s cement and mining operations to Dalmia Cement (North East), both subsidiaries of Dalmia Bharat. The order comes into effect on 31 March 2025. Dalmia Bharat will not issue shares under the arrangement. Both subsidiaries will continue operating under the company following the approval.

India: UltraTech Cement's board has approved the separation of Kesoram Industries' cement business, effective from 1 March 2025. Under this plan, Kesoram Industries cement business will join UltraTech Cement.

The producer will issue one equity share of US$0.11 for every 52 Kesoram Industries shares. The merger will increase UltraTech Cement's production capacity by 7Mt/yr. The companies' boards first approved the merger on 30 November 2023, with the demerger previously scheduled for November 2024.