CCI approves Renew Exim DMCC's acquisition of up to 72.64% of ITD Cementation
The Competition Commission of India on 28 January 2025 approved the proposed acquisition of up to 72.64% shareholding in ITD Cementation India Limited by Renew Exim DMCC, an Adani group company.
Summary
The Competition Commission of India (CCI) approved the proposed acquisition of up to 72.64% shareholding in ITD Cementation India Limited by Renew Exim DMCC on 28 January 2025. Under the CCI-approved combination, Renew Exim DMCC, a Dubai-incorporated holding company of the Adani group, will acquire about 46.64% of ITD Cementation and has launched an open offer for up to a further 26% under SEBI's Takeover Regulations. ITD Cementation India is an engineering and construction company working on maritime structures, metro systems, airports, tunnels and dams.
Key facts
- Approved
- 28 January 2025
- Acquirer
- Renew Exim DMCC (Dubai; Adani group)
- Target
- ITD Cementation India Limited
- Stake
- Up to 72.64% (~46.64% + open offer up to 26%)
Practice MCQs 2 questions
Renew Exim DMCC, whose acquisition of up to 72.64% of ITD Cementation India was approved by CCI in January 2025, belongs to which group?
Show answer
Correct answer: B — Adani group
PIB 2097096: the acquirer is incorporated in Dubai and belongs to the Adani group.
ITD Cementation India Limited, whose acquisition was approved by CCI in January 2025, is mainly engaged in which business?
Show answer
Correct answer: B — Engineering and construction (EPC)
PIB 2097096: ITD Cementation India is an engineering and construction company undertaking heavy civil, infrastructure and EPC business.