In a bid to further expand the infrastructure portfolio across various sectors, the Adani Group is planning to buy over 46 percent shares of ITD Cementation India. This news came as part of the Adani Group’s strategy to enhance its civil engineering capabilities. Nevertheless, the Adani Group seems to be the frontrunner in the race to acquire the promoter’s stake in ITD Cementation India, said sources familiar with this development. According to the people aware of the matter, Adani will pay a staggering amount of Rs 5,888.57 crore to acquire the 46.64 stake in ITD Cementation India. Since this news broke out that the Adani Group is looking forward to buying the promoter stake to bolster its in-house civil engineering capabilities, the enthusiasts have been set their keen eyes on this development and keenly awaiting further announcements regarding the same. In this article, there is a lot more that is noteworthy about this possible deal between the Adani Group and ITD Cementation India. Continue reading this article for more details. Drag down the page.
Adani Group Expands Its Presence In Cement and Infrastructure Sectors
As mentioned, the Adani Group is planning to buy the promoter’s 46.64 percent stake in ITD Cementation India, if it happens then the Adani Group would need to pay Rs 5888.57 crore which is the current market value of ITD Cementation India’s 46.64 percent stake. Additionally, the successful deal between the Adani Group and ITD Cementation India would be finalized for $700 million including a fully subscribed open offer following the promoter stake deal. Not to mention, this deal between the Adani Group and ITD Cementation India, will only strengthen and expand the infrastructure portfolio of the former which already deals in various sectors such as highways, airports, power plants, ports, and real estate as well. As mentioned, the acquisition of ITD Cementation India’s 46.64 percent promoter’s stake by the Adani Group would also improve its construction, engineering, and procurement capabilities.
ITD Cementation India’s History
Sources familiar with this development stated that both parties also finalized an agreement this week but a formal announcement regarding the same has not been made yet. Therefore, the enthusiasts are keenly waiting for the official announcement. For the uninitiated, ITD Cementation India is known for its decades-long legacy that dates back to pre-independence India. ITD Cementation India is an EPC company that is originally based in the United Kingdom. This company has a history of changing its owners multiple times. Despite this, ITD Cementation India has been one of the leading cement companies and a prominent player in the civil engineering and construction sector of India.
The news of the Adani Group’s expected acquisition of 46.64 percent promoter’s stake in the UK-based cement company, is being considered as its strategic move to further expand its civil infrastructure portfolio which will be not less than a compliment to its ongoing large-scale projects as the Adani Group’s construction, engineering, and procuring capabilities will be increased significantly. As mentioned, the Adani Group’s current portfolio already increased a wide range of large-scale projects including airports, ports, highways, real estate, and more. After acquiring the major stake in ITD Cementation India, the Aani Group will be more efficient in executing its projects without relying on external contractors.
The news of Adani Group’s acquisition of ITD Cementation India came amid the continuous enormous growth rate of the Adani Group. Thus, it is anticipated that this deal will only strengthen its growth strategy. Over the past couple of years, we have seen the Adani Group is quite aggressive in expanding its presence in the cement and infrastructure sectors.
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