Gayatri Highways Ltd to acquire 23% stake in HKR Roadways Ltd from Kotak Special Situations Fund

Gayatri Highways Limited (the "Company") has proposed to acquire around 10,67,729 fully paid up equity shares of face value of INR 10 each representing 23.00% of Equity Share Capital in HKR Roadways Limited (the "Target Company") from the Kotak Special Situations Fund, the Existing Shareholder of the Target Company.

Kotak Special Situations Fund, the Existing Shareholder of HKR Roadways Limited has agreed for sale of their equity shareholding to Gayatri Highways Limited ie., around 10,67,729 fully paid up equity shares of face value of INR 10 each aggregating to INR 204.52 Lakhs (Approximately).

The Target Company is engaged in the business regarding four laning road 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.

HKR Roadways Limited (the "Target Company") was incorporated with the business four laning of Hyderabad - Karimnagar - Ramagundam Road (SH1) 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. Total Revenue of HKR Roadways Limited is Rs. 24,578.30 Lakhs in FY 2023-24.

As Gayatri Highways Limited is engaged in infrastructure industry, the investment in Target Company would be very beneficial for the future growth prospects.

Source : Equity Bulls

Keywords

GayatriHighways StakeAcquisition HKRRoadways KotakSpecialSituationsFund