Ambuja Cements Limited equity shareholders approved the Scheme of Amalgamation with ACC Limited at an NCLT-convened meeting held on September 29, 2026, with 99.98% of total valid votes cast in favour of the resolution.

Meeting overview

The meeting was convened pursuant to an order dated July 29, 2026, passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, and was held through Video Conferencing/Other Audio Visual Means at 12:30 pm IST. Mr. Deep Chandra Joshi, a former acting president and member of the NCLT and the NCLT-appointed Chairman of the meeting, chaired the proceedings. The Promoter and Promoter Group held 1,672,081,052 shares, representing approximately 67.33% of the paid-up share capital, covered under four authorisations.

Voting results

The resolution to approve the Scheme of Amalgamation of ACC Limited (Amalgamating Company) with Ambuja Cements Limited (Amalgamated Company) under Sections 230 to 232 of the Companies Act, 2013, was passed as a Special Resolution. Remote e-voting was open from September 24, 2026, at 9:00 am IST to September 28, 2026, at 5:00 pm IST. E-voting at the meeting remained available for 30 minutes after the meeting concluded. The consolidated Scrutinizer's Report was dated September 29, 2026.

The table below presents the consolidated voting outcome across all shareholder categories:

Shareholder participation

A total of 1,610 public members cast valid votes, comprising 1,609 through remote e-voting and 1 through e-voting at the meeting. Central Depository Services (India) Limited (CDSL) facilitated both remote e-voting and e-voting at the meeting. Advocate Manvi Damle, appointed by the NCLT as Scrutinizer, conducted the voting process and submitted the consolidated report on September 29, 2026. The meeting was declared closed at 1:17 pm.

Public shareholder vote

The resolution also satisfied the requisite majority of public shareholders under the SEBI Master Circular dated June 20, 2023. Among public shareholders, 1,562 members voted in favour with 595,232,835 votes, while 48 members voted against with 547,772 votes, out of a total of 1,610 public shareholders who participated.

What the Numbers Show

The voting pattern reveals a stark contrast between institutional and retail sentiment, though both groups overwhelmingly supported the merger. While Public Institutions voted with 99.91% in favour, Public Non-Institutions showed even higher conviction at 99.92%. This near-unanimous support from the promoter group (100%) combined with high public approval indicates strong alignment on the strategic consolidation of the Adani Group's cement assets.

ACC Limited will host a physical interaction with sell-side analysts and investors on Friday, September 25, 2026, in Ahmedabad. The company disclosed the schedule pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The group meeting is scheduled as an in-person event. ACC stated that discussions will be based solely on publicly available information. No unpublished price-sensitive information will be disclosed during the interactions.

The intimation was issued by Bhavik Parikh, Company Secretary & Compliance Officer, and is available on the company website.