Acquisition History / Renew Exim DMCC (Adani Group) / ITD Cementation India
Renew Exim DMCC (Adani Group) Acquires ITD Cementation India
Announced October 2024 — $665.4M
What happened
Adani family vehicle Renew Exim DMCC agreed to buy a 46.64% stake in listed ITD Cementation India from its Thai promoters for Rs 3,204 crore, with a mandatory open offer taking the total to about Rs 5,888.57 crore. ITD Cementation is a heavy civil and EPC contractor working on ports, metros and marine projects.
- Acquirer
- Renew Exim DMCC (Adani Group)
- Target
- ITD Cementation India
- Announced
- October 2024
- Price
- $665.4M
- Industry
- Engineering and construction
- Buyer type
- Strategic acquirer
- Status
- Closed
By the numbers
Frequently Asked Questions About This Acquisition
When did Renew Exim DMCC (Adani Group) acquire ITD Cementation India?
Renew Exim DMCC (Adani Group) acquired ITD Cementation India on October 2024. This was Renew Exim DMCC (Adani Group)'s 1st publicly tracked acquisition out of 1 we have on record.
How much did Renew Exim DMCC (Adani Group) pay for ITD Cementation India?
Renew Exim DMCC (Adani Group) paid $665.4M for ITD Cementation India.
What does ITD Cementation India do?
Adani family vehicle Renew Exim DMCC agreed to buy a 46.64% stake in listed ITD Cementation India from its Thai promoters for Rs 3,204 crore, with a mandatory open offer taking the total to about Rs 5,888.57 crore. ITD Cementation is a heavy civil and EPC contractor working on ports, metros and marine projects.
What other Engineering and construction companies has Renew Exim DMCC (Adani Group) acquired?
ITD Cementation India is Renew Exim DMCC (Adani Group)'s only publicly tracked acquisition in Engineering and construction so far.