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Adani's ₹3K cr bet on ITD rides infra-capex wave
October 28, 2024
|Business Standard
Adani Group's acquisition of a controlling stake in ITD Cementation India through a ₹3,204 crore deal marks the conglomerate's entry into the engineering and construction (EPC) sector.
With this purchase, the group aims to leverage its capital expenditure (capex) along with India's infrastructure spending, sources said.
ITD Cementation India will support the execution of Adani Group's planned ₹1.5 trillion capex and take on key infrastructure projects for the government and private entities, according to a source.
On Saturday, ITD Cementation announced that Adani Group's Dubai-based firm, Renew Exim DMCC, has entered into an agreement to acquire a 46.64 per cent stake in the company from its promoters for ₹3,204 crore. This will trigger an open offer, in line with market regulatory requirements.
هذه القصة من طبعة October 28, 2024 من Business Standard.
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