New Delhi, Jan. 30 -- The Competition Commission of India (CCI) has approved the proposal of Adani Group's arm Renew Exim DMCC to acquire a majority stake in ITD Cementation India. Renew Exim DMCC has proposed to acquire up to 72.64% stake in ITD Cementation India for about Rs.5,757 crore.

The proposed deal involves Renew Exim DMCC buying approximately 46.64% equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Ltd. The Competition Commission of India has granted its approval to the acquisition on 28 January, 2025.

ITD Cementation India Ltd is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) bus...