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Renew Exim DMCC launches open offer for ITD Cementation

March 18, 2025 at 08:10 PM UTCBy FilingReader AI

Renew Exim DMCC has announced a cash open offer to acquire up to 44,664,772 equity shares of ITD Cementation India, representing 26% of the voting share capital, at a price of ₹571.68 per share. ICICI Securities is managing the offer, which stems from Renew Exim DMCC's agreement to purchase a 46.64% stake in ITD Cementation from Italian-Thai Development Public Company Limited. The offer is scheduled to open on March 25, 2025, and close on April 8, 2025. The offer price may be subject to upward revision at the discretion of the acquirer. This acquisition aims to expand capabilities in infrastructure projects and increase cost synergies. Shareholders are urged to consult their advisors.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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