Acquisitions29 Jan 2025, 11:59 pm
Adani Renew Exim to Acquire 72.64% Stake in ITD Cementation India Ltd.
AI Summary
ITD Cementation India Ltd. has disclosed a series of events related to a potential divestment of their investments. The Promoter shareholder, ITD, is exploring a possible divestment and has signed a Share Purchase Agreement (SPA) with Renew Exim DMCC for the sale of 8,01,13,180 Equity Shares, representing 46.64% of the paid-up equity share capital. Renew Exim DMCC has also made a public announcement for the acquisition of up to 4,46,64,772 Equity Shares from Public Shareholders. However, ITD Cementation India Ltd. is not a party to the SPA and does not expect any material impact on its operations due to this article.
Key Highlights
- ITD Cementation India Ltd. is exploring a potential divestment of their investments.
- The Promoter shareholder, ITD, has signed a Share Purchase Agreement (SPA) with Renew Exim DMCC for the sale of 46.64% equity shares.
- Renew Exim DMCC has made a public announcement for the acquisition of up to 4,46,64,772 Equity Shares from Public Shareholders.
- ITD Cementation India Ltd. is not a party to the SPA and does not expect any material impact on its operations due to this article.
- ITD Cementation India Ltd. has been regularly making timely disclosures under Regulation 30 of the Listing Regulations.