Only exceptional content can make people come to the theatres, says Sri Crazyminds

Sri Crazyminds talks to Bangalore Times following his session on film editing at the Bengaluru International Short Film Festival (BISFF) about the changing landscape of cinema

Adani Group’s Renew Exim DMCC has signed an agreement to acquire a 46.64% stake in ITD Cementation India, an engineering and construction company, from its promoters for ₹3,204 crore. The transaction involves purchasing 80.1 million shares at a price of ₹400 each, according to a stock exchange announcement. This acquisition is expected to bolster the Gautam Adani-led conglomerate's in-house engineering, procurement, and construction (EPC) and civil engineering capabilities. Subsequently, Adani Group plans to make an open offer to buy an additional 26% stake from minority shareholders, with the offer price set at ₹571.68 per share, which could raise the total acquisition cost to approximately ₹5,759 crore if fully accepted.

This deal contributes to Adani Group’s aggressive expansion strategy, marking its 12th acquisition in 2024. ITD Cementation is noted for its expertise in maritime structures and engineering, having completed major projects such as those at Jawaharlal Nehru Port Trust and the Delhi and Kolkata Metro systems. The firm also maintains existing ties with Adani Group through projects in hydropower, marine infrastructure, and the Ganga Expressway toll road, with maritime structures comprising 34.5% of its order book.

Prior to the acquisition announcement, ITD Cementation’s stock had performed strongly, increasing by 86.82% year-to-date as investors anticipated the sale. In July 2024, the company revealed that its promoters were considering a divestment, though the process was still in the initial stages.