Adani Group is trying its best to become the king of the cement industry. After acquiring one cement company after another, the group is now eyeing ITD Cementation India. If reports are to be believed, the group may soon acquire 46.64 percent promoter stake as it has taken the lead in this race. The move is expected to boost the infrastructure group’s in-house civil engineering expertise. If the acquisition happens, it will be valued at Rs 5,888.57 crore, including a fully subscribed open offer after the promoter stake purchase.
New step in civil engineering
The deal will strengthen the Adani Group’s infrastructure portfolio, which already includes several sectors including airports, highways, ports, power plants and real estate. With this acquisition, the group will further enhance its engineering, procurement and construction capabilities, giving it a competitive edge in its ongoing projects. The two parties have reportedly reached an agreement earlier this week and a formal announcement is expected soon. ITD Cementation India ITD Cementation India has a rich heritage dating back to pre-independence India. It is originally an EPC company based in the UK. Over the years, the company has changed ownership several times, but it remains a major player in India’s civil engineering and construction landscape.
Stake in ITD Cementation
For the Adani Group, acquiring a majority stake in ITD Cementation represents a strategic expansion into civil infrastructure, complementing its existing focus on large-scale projects. The group’s existing portfolio includes a number of infrastructure projects ranging from airports and highways to renewable energy and real estate. By incorporating ITD Cementation’s engineering capabilities, Adani can potentially execute its projects more efficiently and reduce reliance on external contractors. ( PLC & GT )
