H G Infra Engineering Ltd executes Share Purchase Agreement regarding 4 HAM Projects with Highways Infrastructure Trust

H.G. Infra Engineering Limited ("H.G. Infra") has announced regarding execution of Share Purchase Agreement (SPA) with Highways Infrastructure Trust on May 3, 2023.

The Company entered into a SPA with Highways Infrastructure Trust ("Buyer") and Highway Concessions One Private Limited, H.G. Ateli Narnaul Highway Private Limited, H.G. Rewari Ateli Highway Private Limited, Gurgaon Sohna Highway Private Limited and H.G. Rewari Bypass Private Limited. Pursuant to this, the Company shall sell its 100% shareholding in four wholly owned subsidiaries namely:

(a) Gurgaon Sohna Highway Private Limited;
(b) H.G. Rewari Ateli Highway Private Limited;
(c) H.G. Ateli Narnaul Highway Private Limited: and
(d) H.G. Rewari Bypass Private Limited,
(Collectively referred to as "SPVs" to the Buyer)

Details about this event

- Enterprise Value of this transaction is Rs. 1,394 Cr. translating to approximate Equity Value of Rs. 531 Cr.

- The price to book at which this execution has been made is 1.55

- The equity commitment in these projects - Rs. 343 Cr.

- The debt commitment in these projects - Rs. 996 Cr.

Shares of H.G. Infra Engineering Limited was last trading in BSE at Rs. 899.65 as compared to the previous close of Rs. 900.00. The total number of shares traded during the day was 10409 in over 919 trades.

The stock hit an intraday high of Rs. 912.95 and intraday low of 888.85. The net turnover during the day was Rs. 9331530.00.

Source : Equity Bulls

Keywords

HGInfraEngineering INE926X01010 SPA HighwayInfrastructureTrust