BAJAJ BROKING
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.
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.
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.
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.
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.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Textile Sector in India
20 Sep, 2024 | 11 Min. read
Commodities Market Today | WTI Crude Rises 1.4%, Gold And Silver Prices Increase
20 Sep, 2024 | 1 Min. read
Share Market Today | Gift Nifty Hints At A Positive Opening For Indian Markets
20 Sep, 2024 | 4 Min. read
AU Small Finance Bank Partners With Niva Bupa Health Insurance
20 Sep, 2024 | 4 Min. read
Adani Group To Acquire 46.64% Stake in ITD Cementation India
20 Sep, 2024 | 4 Min. read
NTPC Approves ₹9,701 Crore Investment In Sipat Stage-III
20 Sep, 2024 | 4 Min. read
SEBI Bars Axis Capital From New Debt Segment Roles
20 Sep, 2024 | 4 Min. read
Gold Rate Today | Gold Rises 0.5%, Silver Increases 1.5%
20 Sep, 2024 | 2 Min. read
Savings Rate - Meaning, Types, Risks and Calculation
19 Sep, 2024 | 4 Min. read
Trading Strategy - Meaning, Component, Strategy, Types and Benefits
19 Sep, 2024 | 4 Min. read
Hong Kong Cuts Interest Rates by 0.5% After Fed Eases
19 Sep, 2024 | 4 Min. read
NTPC Green Energy Files ₹10,000 Crore IPO Draft
19 Sep, 2024 | 4 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading