The Adani Group is set to acquire a 46.64% stake in ITD Cementation India for ₹5,888.57 crore, enhancing its civil engineering capabilities. This move will trigger an open offer for an additional 26% stake.
ITD Cementation, known for its expertise in maritime structures and metro projects, holds strategic importance for Adani's infrastructure portfolio. With a market value of ₹8,107 crore, ITD Cementation has seen significant stock growth, rising 114% over the past year. A formal announcement is expected soon.