The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Renew Exim DMCC
CEMPRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Renew Exim DMCC, a Dubai-based company, acquired 8.01 crore equity shares (46.64%) of ITD Cementation India Limited through an off-market transfer on May 28, 2025. This lifted its total stake from 20.83% to 67.46%, giving it majority control and making it part of the promoter group. The transaction is a clear change of control, as the acquirer's holding crossed well beyond the 25% SEBI takeover threshold. Total equity share capital of ITD Cementation stands at INR 17.18 crore divided into 17.18 crore shares of Re. 1 each. The filing explicitly references an Open Offer process, which is mandatory under SEBI Takeover Regulations for such a change in control.
Existing public shareholders can expect a mandatory open offer from Renew Exim DMCC at a SEBI-prescribed minimum price, providing a potential exit opportunity. The stock could also see re-rating or volatility as the new promoter takes control of company strategy.