Shiva Cement to merge with parent JSW Cement

The Boards of Directors of JSW Cement Ltd and its listed subsidiary, Shiva Cement Ltd, have approved a scheme of arrangement involving the amalgamation of Shiva Cement with and into JSW Cement.

JSW Cement will issue 5 equity shares (face value ₹10 each) for every 41 equity shares (face value ₹2 each) held in Shiva Cement to the shareholders of Shiva Cement (other than JSW Cement) under the approved swap ratio.

The transaction is expected to be completed within 12–14 months, subject to timely receipt of regulatory approvals.

Nilesh Narwekar, CEO of JSW Cement, said, “The proposed merger is a strategic step towards creating a more integrated and efficient business.”

“It will unlock operational and financial synergies, strengthen backward integration, and simplify our corporate structure. Importantly, it will enable Shiva Cement’s public shareholders to participate directly in the growth of a larger and more liquid listed entity,” he said.