ITD Cementation India Limited has informed the Exchange regarding Appointment of Mrs Sangeeta Bhatia as Independent Director of the company w.e.f. Jun 20, 2025.
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ITD Cementation India Limited announced board-level changes on June 20, 2025, linked to a change in ownership and control. Promoter Italian Thai Development Public Company Limited has sold its entire stake to Renew Exim DMCC (part of the Adani Group). As a result, two independent directors, Mr. Sunil Shah Singh and Mrs. Jana Chatra, resigned from the board. Simultaneously, Mr. Manoj Kumar Kohli (former CEO of Bharti Airtel and ex-SoftBank India head) and Mrs. Sangeeta Bhatia (36-year NTPC finance veteran) were appointed as new non-executive independent directors for a 3-year term, subject to shareholder approval.
This signals a formal change in corporate control, with the Adani Group taking over as the new promoter through Renew Exim DMCC. Shareholders should expect strategic shifts under new ownership, and the appointment of high-profile independent directors like Manoj Kohli may boost governance credibility. Watch for further announcements on board composition, strategy, and any open offer related to the promoter stake transfer.