UltraTech Cement’s scheme of arrangement with Jaypee Cement Corporation (JCCL) has been approved by Bombay High Court (HC) and Allahabad High Court. The scheme of arrangement is for acquisition of the cement unit of JCCL in Gujarat, comprising of an integrated cement unit at Sewagram and grinding unit at Wanakbori. Meanwhile, the scheme was approved by Securities and Exchange Board of India (SEBI) on May 21, 2013.
Further, the scheme has been declared effective from June 12, 2014 by demerger Implementation Committee constituted by the Board of Directors. The committee also has allotted 114,382 equity shares of the company to the equity and preference share holders of JCCL.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.
