The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Renew Exim DMCC
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Dubai-based Renew Exim DMCC has disclosed under SEBI Takeover Regulations that it acquired 3,57,79,703 equity shares (about 20.83%) of ITD Cementation India Limited through a mandatory open offer on April 17, 2025. Before this acquisition, Renew Exim DMCC held no shares in the company, and after the acquisition its holding stands at 3.57 crore shares, equating to 20.83% of the total equity and voting capital. The acquirer is not part of the promoter or promoter group of ITD Cementation. The disclosure was filed on April 22, 2025, signed by Director Subir Mittra from Dubai.
This is a significant foreign acquisition that brings a non-promoter foreign entity to hold over a fifth of ITD Cementation, which may affect governance dynamics, shareholder composition, and potentially trigger long-term strategic changes. Shareholders should note the change in major ownership and any further disclosures about the acquirer's plans.