Dilip Buildcon sells stake in SPV to Cube Highways

Dilip Buildcon Limited (the "Company") has transferred its remaining 51% equity stake in its subsidiary company viz. DBL Borgaon Watambare Highways Private Limited, ("SPV") to Cube Highways and Infrastructure III Pte. Ltd. ["Purchaser"]

As per the Eansaction structure, the 100% stake transfer of the Company in aforesaid SPV was to be consummated in two stages, ofwhich the first stage of fansfer of 49% equity stake was completed on December 31, 2021 and now the second stage of transfer for remaining 51% Equity shares has been completed.

The Company had invested an aggregate amount of INR 109.87 crores (in form of equity share capital & subordinate loans in aforesaid SPV) against which till December 2021 the Company received from the Purchaser INR 38.97 Crs towards transfer of 49% equity stake and INR 60.07 Crs towards repayment of subordinate loans provided by the Company to said SPV. Further, the Company has now received Rs 42.12 Crs from the Purchaser against transfer of remining 51% equity stake of the said SPV, as per the terms of the Share Purchase Agreement signed with the Purchaser.

Shares of Dilip Buildcon Limited was last trading in BSE at Rs. 198.45 as compared to the previous close of Rs. 205.15. The total number of shares traded during the day was 64249 in over 2858 trades.

The stock hit an intraday high of Rs. 208.00 and intraday low of 195.60. The net turnover during the day was Rs. 12995976.00.

Source : Equity Bulls

Keywords

DilipBuildcon INE917M01012 DBLBorgaonWatambareHighways SPV StakeSale CubeHighways