# Shiva Cement to merge with JSW Cement

JSW Cement's board approved the amalgamation of Shiva Cement into JSW Cement with a swap ratio of 5:41. The merger aims to create a unified cement platform and is expected to complete within 12-14 months.

- Type: Acquisition
- Announced: 2026-09-30
- Where: India
- Status: announced
- Products: cement, clinker
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [JSW Cement](https://endata.com/companies/15683.md) (acquirer)
- [Shiva Cement](https://endata.com/companies/21381.md) (target)

## Sources

- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/jsw-cement-to-merge-with-listed-arm-shiva-cement-board-approves-541-swap-ratio/articleshow/134584860.cms), 2026-09-30: "The proposed merger is a strategic step towards creating a more integrated and efficient business."
- [cwgrp.com](https://cwgrp.com/cemweeknew/news/mergers-acquisitions/jsw-cement-moves-to-merge-shiva-cement-in-india), 2026-10-07: "JSW Cement proposes merger with Shiva Cement subsidiary"
- [cemnet.com](https://www.cemnet.com/News/story/182233/jsw-cement-announces-merger-with-shiva-cement.html), 2026-10-08: "JSW Cement has announced plans to merge its listed subsidiary, Shiva Cement, into the parent company as part of efforts to streamline operations, strengthen vertical integration and improve financial efficiency."
- [cemnet.com](https://www.cemnet.com/home/tags/merger), 2026-10-21: "India’s JSW Cement has approved a proposed amalgamation with its subsidiary Shiva Cement, in which it holds a 66.23 per cent stake."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.