MEP Infrastructure Developers Ltd has signed a non-binding Term Sheet with Indian Highways Developers Pte. Ltd. (the Buyer) on August 4, 2018 (received by us on August 7, 2018) in respect of divestment of its total stake in the following 6 (Six) Subsidiary Companies (SPVs).
1. MEP Nagpur Ring Road 1 Private Limited
2. MEP Sanjose Nagpur Ring Road 2 Private Limited
3. MEP Sanjose Arawali Kante Road Private Limited
4. MEP Sanjose Kante Waked Road Private Limited
5. MEP Sanjose Talaja Mahuva Road Private Limited
6. MEP Sanjose Mahuva Kagavadar Road Private Limited
The transaction is subject to customary due diligence and regulatory approvals and would be undertaken in conformance with the provisions of the respective concession agreements.
The consideration to be received is Rs.450.00 Crores and Plus (estimated) for 100% shareholding of SPVs.
Shares of MEP Infrastructure Developers Ltd was last trading in BSE at Rs.59.1 as compared to the previous close of Rs. 58.85. The total number of shares traded during the day was 60274 in over 366 trades.
The stock hit an intraday high of Rs. 60.15 and intraday low of 58.85. The net turnover during the day was Rs. 3590434.