Adani Group Set To Acquire 46.64% Stake In ITD Cementation India

The Adani Group has emerged as the frontrunner to acquire a 46.64 per cent promoter stake in ITD Cementation India, a move that could significantly strengthen its in-house civil engineering expertise. According to a media report, the acquisition is expected to be valued at Rs 5,888.57 crore (approximately USD 700 million), including a fully subscribed open offer to follow the promoter stake purchase.

This strategic deal will further bolster Adani Group’s expansive infrastructure portfolio, which currently spans multiple sectors such as airports, highways, ports, power plants, and real estate. By incorporating ITD Cementation’s engineering, procurement, and construction (EPC) capabilities, the group is expected to execute its projects more efficiently, reducing its reliance on external contractors.

Both parties reportedly reached an agreement earlier this week, with a formal declaration expected soon. ITD Cementation India, with its roots tracing back to pre-independence India, is a prominent EPC company. Despite multiple ownership changes, it remains a key player in India’s civil engineering and construction sector.

For the Adani Group, the acquisition aligns with its aggressive growth strategy, particularly in cement and infrastructure. The group, which has been rapidly expanding through both organic and inorganic means, views this move as a way to solidify its competitive edge in large-scale infrastructure projects.

At the 32nd Annual General Meeting of Adani Enterprises in June, Chairman Gautam Adani highlighted the group's readiness to seize the growing infrastructure opportunities in India. With India projected to spend USD 2.5 trillion on infrastructure, Adani emphasised that the company’s vast presence across 24 states uniquely positions it to benefit from this development. “At the very core, we are an infrastructure company and are well-positioned to capitalise on the upcoming opportunities,” Adani told shareholders, further underscoring the role of state governments in driving infrastructure growth.