Renew Exim Dmcc proposed to acquire 26% stake in ITD Cementation India Limited (BSE:509496) for INR 25.5 billion on October 25, 2024. A cash consideration valued at INR 571.68 per share will be paid by Renew Exim Dmcc for 44.664772 million shares.
ICICI Securities Limited acted as manager to the offer for Renew Exim Dmcc.
ITD Cementation India Limited is an India-based engineering and construction company. The Company is involved in the heavy civil, infrastructure, and engineering, procurement and construction (EPC) business and operates in India. The Company is engaged in urban infrastructure, Mass Rapid Transport Systems (MRTS) and airports; highways, bridges and flyovers; maritime structures; industrial structures and buildings; water and wastewater; foundation and specialist engineering, and hydro, dams, tunnels and irrigation. It is focused on construction of flyovers, underpasses and river bridges using specialized foundation techniques. The Company offers a modern and comprehensive range of construction techniques for the construction of piles and diaphragm walls, ground improvement, drilling grouting works, rock anchors, slope stabilization and rehabilitation work. The Company’s subsidiaries include ITD Cementation Projects India Limited, ITD Cemindia JV and ITD Cem-Maytas Consortium.
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