Adani Group acquires controlling interest in ITD Cementation for over ₹5,700 crore.
The Adani Group is acquiring a controlling interest in ITD Cementation for over ₹5,700 crore, which includes a primary transaction of ₹3,204 crore for a 46.64% stake and an open offer to buy an additional 26% for ₹2,553 crore. The open offer price is set at ₹571.68 per share, reflecting a premium. If successful, Adani will hold 72.64% of ITD Cementation, enhancing its civil engineering capabilities as it expands into infrastructure sectors.
October 26, 2024
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