Adani Group has decided to buy another company, after which investors may keep an eye on Adani Group's shares on Monday. According to the latest information, Adani Group is going to buy 46.64% in ITD and the amount of this deal is going to be Rs 5888.57 crore.
Adani Group has decided to buy 46.64% stake from the promoters of ITD Cementation India. According to the current valuation, the total value of this deal can be Rs 5,888.57 crore. With this move, Adani's corporate group will further increase its civil engineering capabilities.
Infra portfolio will get new strength
After this deal, the infrastructure portfolio of Adani Group will become stronger. The group already has businesses like airport, highway, port and real estate.
Talks to buy stake
Talks regarding this stake sale were going on between Adani Group and ITD Cementation since the beginning of the week.
An announcement may be made soon
A formal announcement of the deal between Adani Group and ITD Cementation is expected to be made soon.
Existing promoters' stake
The existing promoters of ITD Cementation currently hold 46.64% stake in the company.
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