Stock Report

G R Infraprojects Ltd to sell 7 subsidiaries to Bharat Highways InvIT

Posted On : 2024-02-21 11:36:20( TIMEZONE : IST )

G R Infraprojects Ltd to sell 7 subsidiaries to Bharat Highways InvIT

G R Infraprojects Limited ("Company") has entered into Share Purchase Agreement ("SPA") and other relevant transaction documents for sale of Company's entire investment in equity share of seven wholly owned subsidiary companies namely GR Phagwara Expressway Limited, Porbandar Dwarka Expressway Private Limited, Varanasi Sangam Expressway Private Limited, GR Akkalkot Solapur Highway Private Limited, GR Sangli Solapur Highway Private Limited, GR Gundugolanu Devarapalli Highway Private Limited and GR Dwarka Devariya Highway Private Limited ("wholly owned subsidiaries") to Bharat Highways InvIT, subject to such terms and conditions (including fulfillment of conditions precedent) as embodied in the SPA and other relevant transaction documents.

Upon the sale, G R Infraprojects Limited ("GRIL" or "Seller") shall receive units of Bharat Highways InvIT. The Units will be issued at such price as may be determined, through the book building process under the SEBI InvIT Regulations and InvIT Guidelines.

Shares of G R Infraprojects Ltd was last trading in BSE at Rs. 1183.35 as compared to the previous close of Rs. 1194.00. The total number of shares traded during the day was 1650 in over 307 trades.

The stock hit an intraday high of Rs. 1202.00 and intraday low of 1181.00. The net turnover during the day was Rs. 1961550.00.

Source : Equity Bulls


GRInfraprojects INE201P01022 7Subsidiaries StakeSale BharatHighwaysInvIT