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JSW Cement to merge with Shiva Cement, board approves 5:41 swap ratio
JSW Cement Ltd, part of Sajjan Jindal-led JSW Group, will merge with its listed subsidiary Shiva Cement, a move that will create a "single unified cement platform" and unlock operational, financial and management synergies. The board of JSW Cement has approved a scheme of arrangement, including the amalgamation of Shiva Cement with and into JSW Cement, the company said in a late-night filing on Tuesday. As per the scheme, "JSW Cement will issue 5 equity shares of face value Rs 10 for every 41 e…
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