+
Adani to acquire 46.64% stake in ITD Cementation for Rs 58.88 billion
ECONOMY & POLICY

Adani to acquire 46.64% stake in ITD Cementation for Rs 58.88 billion

The Adani Group is set to acquire a 46.64% stake in ITD Cementation India from its promoters, a deal valued at Rs 58.88 billion, including a fully subscribed open offer. This acquisition will strengthen Adani’s in-house civil engineering capabilities, as the group continues expanding its infrastructure portfolio across airports, highways, ports, and real estate.

Italian-Thai Development Public Co, the current promoter, holds a 46.64% stake in ITD Cementation India, an engineering, procurement, and construction (EPC) company known for its expertise in maritime structures and urban infrastructure projects. ITD’s recent projects include metro works in Delhi and Kolkata and major port developments in Tuticorin and Mundra. Adani's interest in the company aligns with its broader infrastructure ambitions, including marine and hydropower ventures, and positions the conglomerate to benefit from upcoming government infrastructure projects.

This would be Adani’s 11th acquisition in 2024 and is expected to be routed through Adani Enterprises Ltd (AEL). The acquisition aligns with Adani’s growing presence in green energy and large-scale infrastructure projects.

ITD Cementation, with an order book of Rs 185.36 billion, continues its operations across India, Sri Lanka, and Bangladesh, with ongoing projects in various sectors like hydropower, highways, and metro systems. The company’s management has indicated that the stake sale will not impact its day-to-day operations or growth trajectory. (ET)

The Adani Group is set to acquire a 46.64% stake in ITD Cementation India from its promoters, a deal valued at Rs 58.88 billion, including a fully subscribed open offer. This acquisition will strengthen Adani’s in-house civil engineering capabilities, as the group continues expanding its infrastructure portfolio across airports, highways, ports, and real estate. Italian-Thai Development Public Co, the current promoter, holds a 46.64% stake in ITD Cementation India, an engineering, procurement, and construction (EPC) company known for its expertise in maritime structures and urban infrastructure projects. ITD’s recent projects include metro works in Delhi and Kolkata and major port developments in Tuticorin and Mundra. Adani's interest in the company aligns with its broader infrastructure ambitions, including marine and hydropower ventures, and positions the conglomerate to benefit from upcoming government infrastructure projects. This would be Adani’s 11th acquisition in 2024 and is expected to be routed through Adani Enterprises Ltd (AEL). The acquisition aligns with Adani’s growing presence in green energy and large-scale infrastructure projects. ITD Cementation, with an order book of Rs 185.36 billion, continues its operations across India, Sri Lanka, and Bangladesh, with ongoing projects in various sectors like hydropower, highways, and metro systems. The company’s management has indicated that the stake sale will not impact its day-to-day operations or growth trajectory. (ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code