Ambuja Cements shareholders approve Orient Cement amalgamation scheme
- Ambuja Cements shareholders approved Orient Cement amalgamation with 99.98% votes in favour
- Total valid votes cast stood at 2,254,623,912 across 1,765 participating members
- Public shareholders voted 99.93% in favour, satisfying SEBI Master Circular requirements
- Promoter group voted unanimously in support, holding 67.33% of paid-up share capital
*this image is generated using AI for illustrative purposes only.
Ambuja Cements Limited equity shareholders approved the Scheme of Amalgamation with Orient Cement Limited on September 28, 2026, with 99.98% of total valid votes cast in favour of the resolution.
The meeting was convened pursuant to an order dated July 20, 2026, passed by the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench. The proceedings were held through Video Conferencing/Other Audio Visual Means at 12:30 pm IST, with the registered office of the company at Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad deemed as the venue.
Voting results at a glance
A total of 1,765 members participated in the voting process, casting 2,254,623,912 valid votes. The resolution was passed with the requisite statutory majority under Section 230 of the Companies Act, 2013, as well as the requisite majority of public shareholders under the SEBI Master Circular dated June 20, 2023.
| Category | Shares held | Votes polled | % polled | Votes in favour | Votes against |
|---|---|---|---|---|---|
| Promoter and Promoter Group | 1,672,081,052 | 1,672,081,052 | 100.0000% | 1,672,081,052 | 0 |
| Public - Institutions | 617,452,238 | 567,313,925 | 91.8798% | 566,913,922 | 400,003 |
| Public - Non Institutions | 195,283,896 | 15,130,332 | 7.7479% | 15,112,331 | 18,001 |
| Total | 2,484,817,186 | 2,254,525,309 | 90.7320% | 2,254,107,305 | 418,004 |
Breakdown of valid votes
Of the 2,254,623,912 total valid votes, 2,254,107,305 votes representing 99.98% were cast in favour of the amalgamation scheme, while 418,004 votes representing 0.02% were cast against. No invalid or abstained votes were recorded.
| Voting mode | Members voted | Valid votes |
|---|---|---|
| E-voting at the meeting | 7 | 30,453 |
| Remote e-voting | 1,758 | 2,254,593,459 |
| Total | 1,765 | 2,254,623,912 |
Public shareholder voting
For public shareholders specifically, 1,760 members holding 582,444,257 shares participated. Of these, 1,692 members cast 582,026,253 votes in favour, while 68 members cast 418,004 votes against. No invalid votes were recorded among public shareholders. The resolution was confirmed as passed, with votes in favour exceeding votes against among public shareholders.
Meeting proceedings
Mr. Atul Lakhanpal, Senior Advocate and NCLT-appointed Chairman of the meeting, chaired the proceedings. The following directors attended through video conferencing:
- Mr. Vinod Bahety, CEO & Whole-time Director
- Mr. Ameet Desai, Independent Director
- Mr. Praveen Garg, Independent Director
Mr. Gautam S Adani, Chairman of the Board; Mr. Karan Adani, Non-executive Director; Ms. Purvi Sheth, Independent Director; and Mr. Maheswar Sahu, Independent Director, were unable to attend due to personal commitments. Mr. Rohit Soni, Chief Financial Officer; and Mr. Manish Mistry, Company Secretary, were also present. The company received four authorisations from the promoter/promoter group, covering approximately 167.20 crore shares, representing 67.33% of the company's paid-up share capital.
Remote e-voting commenced on September 23, 2026 at 9:00 am IST and concluded on September 27, 2026 at 5:00 pm IST. Central Depository Services (India) Limited was engaged to facilitate participation through video conferencing and provide remote e-voting and e-voting facilities. CA Anmol Bindra was appointed by the NCLT as Scrutinizer to conduct the voting process in a fair and transparent manner. The meeting was declared closed at 1:22 pm.
Historical Stock Returns for Orient Cement
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.23% | -4.11% | -8.71% | -9.28% | -48.89% | 0.0% |
What is the expected timeline for the final NCLT approval and subsequent merger completion following this shareholder vote?
How will the integration of Orient Cement's assets specifically impact Ambuja Cements' production capacity in the Eastern and Central Indian markets?
What synergies in logistics and distribution networks are projected to drive cost efficiencies post-amalgamation?
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