Simplex Infrastructures’ subsidiary - Simplex Infra Development (SIDL), will purchase 49,00,000 equity shares of Maa Durga Expressways (MDEPL) having a face value of Rs 10 each and constituting 49% of the total share capital of MDEPL, for a total consideration of Rs 4.90 crore, from Gammon Infrastructure Projects (GIPL).
The company currently holds 51% of the share capital of MDEPL. The transaction will be carried out in one or more tranches, pursuant to the termination agreement between MDEPL, GIPL and the company.
Besides, Vijayawada Gundugolanu Road Project (VGRPPL), a subsidiary of GIPL, will refund the entire share application money of Rs 4.90 crore paid by SIDL pursuant to the termination agreement between VGRPPL, GIPL and the company.
Simplex Infrastructures has emerged as a leading service provider of infrastructure and construction. Employment of the latest technology has helped Simplex Infrastructure execute projects with precision and timeliness.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
| View more.. | |
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