Gayatri Highways Limited to acquire 12.71% stake in HKR Roadways Ltd

Gayatri Highways Limited (the "Company") has proposed to acquire 12.71% of Equity Share Capital in HKR Roadways Limited (the "Target Company") from the Existing Shareholder of the Target Company.

The Existing Shareholder of HKR Roadways Limited has agreed for sale of their equity shareholding to Gayatri Highways Limited [5,89,997 fully paid up equity shares of face value of INR 10 each aggregating to INR 58,99,970].

The Target Company is engaged in the business regarding four laning of the roads in the state of Telangana under Public Private Partnership (PPP) as Build, Operate and Transfer (BOT) basis and to collect toll, charges and fees from the users of the said project.

Total Revenue of HKR Roadways Limited is Rs. 1,87,44,72,814/- in FY 2020.

HKR Roadways Limited was incorporated with the business four laning of Hyderabad - Karimnagar - Ramagundam Road (SH-1) from Km 28.200 to Km 235.058 in the state of Andhra Pradesh under Public Private Partnership (PPP) as Build, Operate and Transfer (BOT) basis and to collect toll, charges and fees from the users of the said project in accordance with the terms of the concession agreement to be entered in to with the The Governor of Andhra Pradesh represented by Chief Engineer (R&B)-Core Road Network and Managing Director, A.P. Road Development Corporation.

Shares of Gayatri Highways Ltd was last trading in BSE at Rs.0.65 as compared to the previous close of Rs. 0.65. The total number of shares traded during the day was 31592 in over 21 trades.

The stock hit an intraday high of Rs. 0.68 and intraday low of 0.62. The net turnover during the day was Rs. 20438.

Source : Equity Bulls

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