JK Lakshmi Cement shares in the spotlight on receiving merger approval from NSE, BSE; all you need to know

As per the scheme of amalgamation, three subsidiaries, namely Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries, are getting merged into JK Lakshmi Cement.

"We would like to inform you that BSE and NSE, vide their letters dated 1st January 2025, have issued their observation letters as required under Regulation 37 of the Listing Regulations with No adverse observation'/'No objection' to the proposed scheme," JK Lakshmi Cement said in a BSE filing.

For Udaipur Cement Works Ltd. (UCWL), its shareholders will receive four shares of JK Lakshmi Cement for every 100 shares they hold in the company.

Giving the go-ahead, bourses have directed the parties to disclose all details about the companies before the Jaipur Bench of the National Company Law Tribunal.

The company shall also ensure that the scheme's financials, including those considered for valuation reports, are not for periods over 6 months old.

JK Lakshmi Cement has a combined capacity of 16.5 million tonne per annum (MTPA) in FY24. Its revenue was at ₹6,319.77 crore. UCWL's revenue in FY24 was ₹1,163.59 crore.

JK Lakshmi Cement Limited is a part of the JK Organisation. This industrial house is over hundred and thirty-five years old and boasts operations in India and abroad with a leadership presence in the fields of tyre, cement, paper, power transmissions, sealing solutions, dairy products and textiles.

JK Lakshmi Cement, as per its website, has an annual turnover of over ₹6000 crore. It has a strong presence in Northern, Western and Eastern India's cement markets.

"Having started the company in 1982, we have modern and fully computerized, integrated cement plants at Jaykaypuram, in the Sirohi district of Rajasthan, at Dabok, in the Udaipur district of Rajasthan (a subsidiary of the company) and at Ahiwara, in the Durg district of Chhattisgarh. We also have four split location grinding units at - Kalol and Surat in Gujarat, Jhamri in the Jhajjar district of Haryana and Cuttack in Odisha. The combined capacity of our company is 13.9 Million MT per annum," the company's website further adds.