G R Infraprojects Ltd Agrees to Sell 7 Subsidiaries to Bharat Highways InvIT

G R Infraprojects Limited (GRIL) has finalized a Share Purchase Agreement (SPA) and associated transaction documents for the divestment of its entire equity stake in seven wholly-owned subsidiary companies. The subsidiaries involved in the sale include GR Phagwara Expressway Limited, Porbandar Dwarka Expressway Private Limited, Varanasi Sangam Expressway Private Limited, GR Akkalkot Solapur Highway Private Limited, GR Sangli Solapur Highway Private Limited, GR Gundugolanu Devarapalli Highway Private Limited, and GR Dwarka Devariya Highway Private Limited.

The buyer in this transaction is Bharat Highways InvIT. The sale is subject to various terms and conditions as outlined in the SPA and other pertinent transaction documents. Upon completion of the sale, GRIL will receive units of Bharat Highways InvIT. The pricing of these units will be determined through the book building process in accordance with the SEBI InvIT Regulations and InvIT Guidelines.

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