ICICI Securities Limited has submitted to the Exchange a copy of details of shares subscribed as at 13:13:29 on April 07, 2025.'
CEMPRO · price
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On the reaction day the stock moved 3.8 pts more than Nifty Smallcap 250 and 4.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ICICI Securities, acting as Manager to the Open Offer, has reported that public shareholders have tendered 2,02,76,209 equity shares (45.40% of the Offer Size) in the open offer escrow account as at 1:13 PM on April 7, 2025. The Open Offer is by Renew Exim DMCC (the Acquirer) to acquire up to 4,46,64,772 fully paid-up equity shares of ITD Cementation India Limited at a face value of INR 1 each, under SEBI Takeover Regulations. The Letter of Offer was originally dated March 18, 2025. The filing clarifies that shares tendered are subject to validation, and the final accepted number may differ from the tendered count.
The offer has received a healthy response with nearly half the offer size already tendered, indicating strong shareholder interest and likely smooth completion of the acquisition by Renew Exim DMCC. ITD Cementation shareholders who tendered will receive the offer price upon acceptance, while remaining shareholders retain their shares post-acquisition.