Gayatri Highways Limited to sell 36.99% stake in HKR Roadways Ltd to Kotak Special Situations Fund

Gayatri Highways Limited (the "Seller/Investee") has proposed to sell up to 36.99% of Equity Share Capital held by the Company in HKR Roadways Limited to Kotak Special Situations Fund (represented by its investment manager, Kotak Investment Advisors Limited) (the "Purchaser/Investor") under OTS (Onetime Settlement) Scheme.

Gayatri Highways Limited, Existing Shareholder of HKR Roadways Limited has agreed for sale of their equity shareholding to Kotak Special Situations Fund (represented by its investment manager, Kotak Investment Advisors Limited) 17,17,146 fully paid up equity shares of face value of INR 10 each aggregating to INR 1,71,71,460 (Rupees One Crore Seventy One Lakh Seventy One Thousand Four Hundred Sixty Only).

Shares of Gayatri Highways Ltd was last trading in BSE at Rs.0.57 as compared to the previous close of Rs. 0.57. The total number of shares traded during the day was 12557 in over 14 trades.

The stock hit an intraday high of Rs. 0.59 and intraday low of 0.56. The net turnover during the day was Rs. 7165.

Source : Equity Bulls

Keywords