Cemindia Projects Aims for 50B Rupees Share Sale

Cemindia Projects Ltd., formerly ITD Cementation India Ltd., is nearing the launch of a substantial share sale to institutional investors. The company plans to raise up to 50 billion rupees through a qualified institutional placement, with ICICI Securities and SBI Capital Markets managing the transaction. The board approved this fundraising on July 23.

This offering is part of a larger trend boosting India's equity capital market, which is on track for its strongest month ever. This August has seen nearly $10 billion in deals, supported by strong domestic liquidity. Adani Group acquired control of Cemindia Projects in 2024 and has since increased its stake to 67.46%.

Cemindia Projects specializes in heavy civil, infrastructure, and engineering, procurement, and construction projects within India. The company has been actively engaging with institutional investors, and the share sale could be initiated in the coming days, though details remain subject to ongoing deliberations.