Ambuja Cements has received a ‘no objection’ letter from the National Stock Exchange of India (NSE) for its proposed merger with Sanghi Industries. The green light follows the company’s earlier announcement on December 17, 2024, where its Board approved the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013.
The NSE’s observation letter, dated July 17, 2025, includes key conditions the company must fulfill before approaching the National Company Law Tribunal (NCLT). These include full disclosures of pending legal proceedings, adherence to SEBI regulations, and detailed financial information to shareholders. The scheme also mandates that all shares issued under the merger be in demat form.
While the NSE’s nod is a crucial milestone, the merger is still subject to several statutory, regulatory, and shareholder approvals. Ambuja Cements has confirmed it will upload the observation letter on its official website for public access.
The NSE clarified that its “no objection” does not imply approval of the scheme’s financials or company operations, and it reserves the right to raise objections if discrepancies are found later.
In the meantime, Ambuja Cements shares closed at ₹595.00 on July 17, slightly down from the opening price of ₹595.40. The stock touched an intraday high of ₹595.85 and a low of ₹589.50 during the session. Ambuja remains well below its 52-week high of ₹695.00 but comfortably above the 52-week low of ₹453.05.
