Adani's Renew Exim to take majority control of ITD Cementation with 72.64% stake
In October 2024, Renew Exim DMCC announced it had entered into an agreement to acquire a 46.64% stake in ITD Cementation India from its promoters for ₹3,204 crore. The acquisition also comes with an open offer by Renew Exim to acquire an additional 26% stake in an engineering and construction firm from public shareholders for ₹2,553 crore, if fully subscribed.
In October 2024, Renew Exim DMCC announced it had entered into an agreement to acquire a 46.64% stake in ITD Cementation India from its promoters for ₹3,204 crore. The acquisition also comes with an open offer by Renew Exim to acquire an additional 26% stake in an engineering and construction firm from public shareholders for ₹2,553 crore, if fully subscribed.
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