The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Italian - Thai Development Public Company Ltd
CEMPRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Italian-Thai Development Public Company Ltd, the existing promoter of ITD Cementation India Limited, has sold its entire holding of 8,01,13,180 equity shares (46.64% of paid-up capital) to Renew Exim DMCC via an off-market transfer on 28 May 2025. The transaction was agreed under a Share Purchase Agreement dated 25 October 2024. Post-sale, the seller holds zero shares and has been de-classified as a promoter under Regulation 31A(10), while the purchaser has formally acquired control of the listed target company. ITD Cementation India remains listed on both BSE and NSE with a total equity share capital of 17,17,87,584 shares of ₹1 each (₹17.18 crore). The disclosure was filed by the seller under Regulation 29(2) of the SEBI Takeover Regulations, 2011.
This is a complete change of promoter and control at ITD Cementation India, which could lead to shifts in strategy and management. Shareholders should watch for a likely mandatory open offer announcement from the new acquirer, Renew Exim DMCC, as SEBI takeover rules typically require one upon a change of control.