ITD Cementation India Limited, a leading player in the construction and infrastructure sector, has issued a formal clarification regarding recent media reports about the potential divestment of its promoter, Italian Thai Development Public Company Limited (ITD).
The company addressed these reports following a recent article on Money Control, which sparked speculation about the promoter’s potential stake sale.
In its statement, ITD Cementation confirmed that discussions about the promoter’s possible divestment had been initiated earlier in July 2024. However, the company emphasized that no conclusive decision has been reached regarding the sale of the promoter’s stake. The talks remain ongoing, but there is no final outcome as of now.
The company further reassured its investors and stakeholders that it remains committed to adhering to regulatory guidelines and ensuring complete transparency.
ITD Cementation stated that it would continue to make timely and appropriate disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Any material updates that could affect the company’s share price or market volume will be communicated promptly.
