ITD Cementation India Ltd News
Adani Group gets CCI clearance to acquire majority stake in ITD Cementation
The Competition Commission of India on Tuesday approved Adani Group's arm Renew Exim DMCC's proposal to acquire a majority stake in ITD Cementation India for about Rs 5,757 crore. ITD Cementation India Ltd is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) business and operating in India and overseas. "The proposed combination involves the acquisition by Renew Exim DMCC (acquirer) of approximately 46.64 per cent equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Ltd (target)," the Competition Commission of India (CCI) said in a release. Renew Exim DMCC is incorporated in Dubai, United Arab Emirates, and belongs to the Adani group. It is a holding company engaged in the business of investment in commercial enterprises and management and does not have any operations in India. Pursuant to the Sebi's SAST (Substantial Acquisition of Shares a
 "Adani Group gets CCI clearance to acquire majority stake in ITD Cementation")
ITD Cementation surges 18% on Adani play; has zoomed 122% so far in 2024
ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.
 "ITD Cementation surges 18% on Adani play; has zoomed 122% so far in 2024")
ITD Cementation surges 18% amid Adani Group's promoter's stake buy buzz
On July 3,Italian Thai Development Public Company, the Promoter shareholder of the company, informed that they are exploring a potential possible divestment of their investments in ITD Cementation
 "ITD Cementation surges 18% amid Adani Group's promoter's stake buy buzz")
