ACC Limited shareholders have formally approved the company's amalgamation with Ambuja Cements. The resolution passed with 95.52% of votes cast in favor during the NCLT-convened meeting. This move marks a pivotal regulatory milestone in the consolidation process between these two major cement entities, moving the merger closer to final completion.
ACC Shareholders Approve Ambuja Cements Amalgamation
144,822,702 votes cast in favor, representing 95.52% of total valid votes polled.
151,607,359 total votes were cast, reflecting an 80.73% participation rate by shareholders.
Reader Takeaway: Strong shareholder backing clears a major hurdle for the ACC-Ambuja merger; final regulatory steps now pending.
What just happened
ACC Limited held a court-convened meeting of shareholders on September 29, 2026, to vote on the proposed Scheme of Amalgamation with Ambuja Cements Limited. The proposal received overwhelming approval, with 95.52% of votes cast in favor of the merger. Only 4.47% of votes were cast against the resolution, indicating broad investor support for the consolidation.
Why this matters
This approval is a critical procedural requirement under the Companies Act, 2013, and the NCLT framework. By securing this mandate, the companies move past a significant legal milestone. The consolidation is part of a larger strategic realignment within the cement sector, aiming to create synergies and operational efficiencies for both entities.
The backstory
The meeting was conducted via video conference following an order from the NCLT Ahmedabad Bench. The voting process was overseen by independent scrutinizer Adv. Aniq A Kadri, who verified that the e-voting process—facilitated by CDSL—was conducted in a fair and transparent manner.
What changes now
With shareholders’ consent secured, the companies will proceed with further filings and procedural requirements mandated by the NCLT and other regulatory bodies. The management will now focus on fulfilling final compliance obligations to formalize the merger.
Risks to watch
While the shareholder hurdle is cleared, the final amalgamation remains subject to the remaining regulatory approvals. Any unforeseen judicial or regulatory interventions could technically impact the timeline of the merger completion.
What to track next
Investors should look for updates regarding subsequent NCLT orders and the final certification of the amalgamation, which will dictate the record date and share swap mechanics if applicable.