Adani Group's Rs 3,000 crore bet on ITD rides India's infra-capex wave

Group entity will acquire 46.64% in EPC firm, triggering an open offer

Adani Group’s acquisition of a controlling stake in ITD Cementation India through a Rs 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 Rs 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