Adani Group will acquire a 46.64% stake in ITD Cementation India for ₹5,888.57 crore, boosting its engineering capabilities.
As of 10:08 am on September 20, 2024, the share price of ITD Cementation is trading at ₹553.65, following a surge of 17.41%.
The deal is valued at ₹5,888.57 crore and includes an open offer upon acquiring the promoter’s stake. A key financial shift for Adani.
This acquisition is part of Adani’s aggressive expansion in infrastructure, bolstering its position in airports, power, ports, and real estate.
ITD Cementation India will play a critical role in Adani’s infrastructure developments, known for its expertise in engineering projects.