Cemindia Projects Ltd to Acquire 26% Stake in Morsagar Bisalpur Water Limited for Infrastructure Development

Cemindia Projects Ltd, formerly ITD Cementation India Limited, has announced its intention to subscribe for 2,600 shares of Rs 10 each, representing 26% of the share capital of Morsagar Bisalpur Water Limited (MBWL). MBWL, incorporated on 3rd November 2025, is involved in the design, finance, development, construction, operation, and maintenance of the Mor Sagar Artificial Reservoir and feeder from Bisalpur to Mor Sagar Artificial Reservoir in the state of Rajasthan under the Hybrid Annuity Model. The acquisition does not involve any cash consideration or share swap. Cemindia Projects Ltd and Adani Enterprises Limited, a related party, will hold 26% and 74% of MBWL's share capital respectively. MBWL is yet to commence its business operations.