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.
This story is from the October 28, 2024 edition of Business Standard.
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This story is from the October 28, 2024 edition of Business Standard.
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