Mumbai/IBNS, Dec. 23 -- Adani Group's Ambuja Cements has announced the merger of its subsidiaries-ACC Ltd and Orient Cement Ltd-with the parent company, a move aimed at creating a pan-India cement powerhouse, media reports said.

As per the share-swap ratio approved by the board, Ambuja Cements will issue 328 equity shares of face value Rs 2 each for every 100 equity shares of ACC with a face value of Rs 10 each, to eligible ACC shareholders.

Similarly, for every 100 equity shares of Orient Cement with a face value of Re 1 each, Ambuja Cements will issue 33 equity shares of face value Rs 2 each to eligible Orient Cement shareholders. The merger is expected to deliver significant operational synergies by optimising manufacturing and logis...