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Adani Group To Acquire 46.64% Stake in ITD Cementation India

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Synopsis:

Adani Group is acquiring a 46.64% stake in ITD Cementation India for Rs 5,888.57 crore. This move bolsters its in-house civil engineering capabilities, further expanding its infrastructure projects across airports, highways, and real estate.

Adani Group news today

The Adani Group is set to acquire a 46.64% stake in ITD Cementation India, valued at Rs 5,888.57 crore ($700 million), as part of its strategy to strengthen its in-house civil engineering capabilities. This deal includes an open offer that follows the purchase of the promoter’s stake in the engineering, procurement, and construction (EPC) company. The acquisition aligns with Adani Group’s expansion goals across various infrastructure sectors.

ADANI ENERGY SOLUTION LTD

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1015.85-24.25 (-2.33 %)

Updated - 03 October 2024
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Expanding civil engineering capabilities

The acquisition of ITD Cementation India allows the Adani Group to enhance its presence in the civil engineering domain. The company, known for its expertise in construction and infrastructure projects, has a strong foothold in sectors such as maritime, urban development, and transportation. This move enables Adani to streamline its construction projects across its expansive infrastructure portfolio.

Strategic move for infrastructure growth

The Adani Group, under Gautam Adani’s leadership, has been aggressively expanding its portfolio across key sectors, including airports, highways, ports, power plants, and real estate. With this acquisition, the conglomerate will further solidify its position in the Indian infrastructure market, leveraging ITD Cementation’s engineering expertise to deliver large-scale projects. This strategic investment is a part of Adani Group’s broader plan to diversify and dominate in various infrastructure sectors.

Deal details and financial implications

At the current market value, the deal is pegged at Rs 5,888.57 crore. The transaction includes a mandatory open offer, which will be triggered upon the promoter stake purchase. Although an official announcement is awaited, both sides have reportedly agreed on the terms of the deal. The acquisition is expected to significantly impact the operations of ITD Cementation India, positioning it as a crucial part of Adani Group's infrastructure ventures.

The Adani Group's acquisition of a 46.64% stake in ITD Cementation India marks a significant milestone in the conglomerate’s expansion strategy. This move will bolster Adani's civil engineering capabilities and solidify its position in the infrastructure industry.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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