The merged entity will be called Dalmia Bharat Ltd (DBL).
"The Board of Directors of Dalmia Bharat Ltd (DBL), OCL India Ltd (OCL), Dalmia Cement (Bharat) Ltd (DCBL) and Odisha Cement Limited (ODCL)...approved a Scheme of Arrangement and Amalgamation for the merger of Dalmia Bharat with OCL India and merged entity to be renamed as Dalmia Bharat Ltd," DBL said in a filing to the BSE.
"Simultaneously, the business undertakings of OCL will be transferred into DCBL consolidating DCBL's cement manufacturing capacity within same legal entity," it added.
The company further said that the respective boards "considered and approved plans to reorganise the businesses with a view to simplify the group structure, create one listed entity, consolidate into a single operating cement company, pursue focused growth towards Pan India presence and renewed and sharper focus on sustainable development".
Directly or through its subsidiaries, DBL holds a 100 per cent stake in DCBL, while DCBL owns a 74.66 per cent stake in OCL.
ODCL is a wholly-owned subsidiary of OCL.
The scheme is subject to stakeholder and regulatory approvals, including stock exchanges and other relevant authorities.
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