ICICI Securities Limited has provided an update on the open offer for the acquisition of equity shares of ITD Cementation India Limited by Renew Exim DMCC. The open offer, which complies with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SEBI SAST Regulations), aims to acquire 4,46,64,772 equity shares of ITD Cementation India Ltd.

As per the latest disclosure by ICICI Securities, a total of 707,910 shares, representing 1.58% of the offer size, have been tendered in the Open Offer Escrow Demat Account as of April 2, 2025, at 13:19:48. These shares have been deposited in the demat account titled "LIIPL ITD CEMENTATION INDIA OPEN OFFER ESCROW", maintained with Ventura Securities Limited.

Breakdown of Open Offer Status

• Total Open Offer Shares: 4,46,64,772 equity shares

• Shares Tendered So Far: 707,910 shares (1.58% of the offer size)

• Escrow Demat Account Holder: Ventura Securities Limited

• Depository Participant ID: IN303116

• Client ID: 15245978

• Escrow Account PAN: AAACT1426A

Verification and Final Acceptance of Shares

It is important to note that the number of shares tendered in the Open Offer Escrow Demat Account does not necessarily represent the final number of shares that will be accepted by the Acquirer. The validity of tendered shares is subject to:

1. Validation and verification of submitted documents by public shareholders.

2. Compliance with SEBI (SAST) Regulations and the Letter of Offer (LoF) dated March 18, 2025.

3. The final acceptance of shares by Renew Exim DMCC, which will be disclosed after verification.

Impact on ITD Cementation India Ltd Shareholders

The open offer process allows public shareholders of ITD Cementation India Ltd to tender their shares at the offer price, providing an exit opportunity amid the acquisition process. However, with only 1.58% of the total offer size being tendered so far, the final response to the open offer remains to be seen.

Shareholders who have tendered their shares should monitor further updates from ICICI Securities regarding the acceptance ratio and the final settlement of shares.

Conclusion

The open offer by Renew Exim DMCC for ITD Cementation India Ltd is progressing, with 707,910 shares tendered so far. The final outcome will depend on the verification process and the Acquirer’s acceptance of validly tendered shares. ICICI Securities has assured that updates will be provided as the process continues. Shareholders are advised to stay informed and review further announcements on the acceptance ratio and open offer settlement process.

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