India, Sept. 30 -- JSW Cement Ltd has approved a scheme to merge its listed subsidiary Shiva Cement Ltd with the company, creating a unified cement business under the JSW Group.
Under the approved arrangement, JSW Cement will issue 5 equity shares of face value Rs 10 each for every 41 equity shares of face value Rs 2 each held in Shiva Cement.
The merger is aimed at consolidating the two businesses and creating operational, financial and management synergies across the cement platform.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....