Ambuja Cements Limited has completed a significant milestone in its amalgamation with Sanghi Industries Limited, with the Finance Committee approving the allotment of 1,29,93,708 equity shares on April 10, 2026. This development follows the earlier announcement of April 6, 2026 as the record date for the scheme of amalgamation.

Share Allotment Details

The Finance Committee of Ambuja Cements' Board of Directors approved the allotment during its meeting held on April 10, 2026. The key details of the share allotment are:

The allotted shares will rank pari passu with existing equity shares of Ambuja Cements, providing equal rights to the new shareholders.

Fractional Entitlements Management

As part of the allotment process, 15,156 fully paid-up equity shares have been specifically allocated to Catalyst Trusteeship Limited. These shares represent fractional entitlements of eligible Sanghi Industries shareholders and will be held in trust for their benefit in accordance with the scheme terms.

Previous Amalgamation Timeline

The share allotment follows the previously established timeline for the amalgamation:

Both NSE and BSE had implemented trading suspensions for Sanghi Industries shares effective April 6, 2026, under their respective regulatory frameworks.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was communicated to National Stock Exchange of India Limited, BSE Limited, and Luxembourg Stock Exchange, reflecting the company's multi-exchange listing status. The announcement was signed by Manish Mistry, Company Secretary & Compliance Officer, and uploaded on the company's website at www.ambujacement.com .

Bank of America has reaffirmed its Buy rating on Ambuja Cements while adjusting its target price downward, reflecting ongoing cost pressures in the cement sector.

Revised Target Price and Rating

The brokerage has cut its target price by ₹30, bringing it down to ₹590 from the earlier ₹620, while maintaining confidence in the stock's long-term prospects.

Cost Headwinds Impact

The target price revision primarily stems from significant cost pressures facing the cement industry. BofA has identified cost headwinds of ₹200-250 per metric ton directly attributed to the ongoing West Asia conflict. These elevated costs are expected to impact the company's operational margins in the near term.

Strategic Focus Areas

Despite the challenging cost environment, BofA has highlighted price hikes as a critical near-term catalyst for Ambuja Cements. The brokerage's analysis suggests that the company's ability to implement effective pricing strategies will be crucial for navigating the current headwinds.

Outlook Beyond Q4

While acknowledging upcoming margin pressures in Q4, Bank of America maintains a constructive long-term view on Ambuja Cements. The brokerage's decision to look beyond the immediate quarterly challenges reflects confidence in the company's fundamental business strength and market position in the cement sector.