Ramky Infrastructure Limited had, pursuant to the Share Purchase Agreement executed with Cube Highways and Infrastructure Pte. Ltd., Singapore, for sale of 100% of the Company's shareholding in N.A.M. Expressway Limited and intimation dated August 31, 2018, completed the transaction on December 1, 2018 by transfer of 100% of the company's shareholding.
Pursuant to the completion of the 100% share transfer, the consolidated debt of the company is reduced by about INR 15,590 million.
Further with effect from December 1, 2018, N.A.M. Expressway Limited shall ceases to be aWholly owned subsidiary of Ramky Infrastructure Limited and to that extent the consolidated financial statements will have an impact.
Sale of N.A.M. Expressway Limited to Cube Highways and Infrastructure Pte. Ltd., Singapore is not a related party transaction.
Shares of RAMKY INFRASTRUCTURE LTD. was last trading in BSE at Rs.147.5 as compared to the previous close of Rs. 144.1. The total number of shares traded during the day was 5559 in over 155 trades.
The stock hit an intraday high of Rs. 150.9 and intraday low of 142.05. The net turnover during the day was Rs. 815439.