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Gayatri Projects executes share purchase agreement to sell its stake in WUPTL

20 Jan 2016 Evaluate

Gayatri Projects (GPL) and its subsidiary Gayatri Infra Ventures (GIVL) along with NCC have executed a share purchase agreement with Cube Highways and Infrastructure to sell their entire 100% shareholding in Western UP Tollway (WUPTL). The transaction is expected to complete within 1-2 months, after which Cube Highways and Infrastructure, a unit of global infrastructure investment manager, I Squared Capital, will emerge the sole owner of WUPTL.

WUPTL is a four lane highway project connecting the Meerut - Muzaffarnagar section (from km 52.25 to km 131) of NH 58 in the state of Uttar Pradesh (UP) under the National Highway Development Project (NHDP). The project has been fully operational since October 2011 with 20 years tolling period based on a concession agreement executed with National Highway Authority of India (NHAI).

This divestment move is in line with GPL’s management efforts to monetize its road investments, which enables the company to reduce its debt burden and to go forward with a more asset-light approach.



Gayatri Projects Share Price

19.69 0.93 (4.96%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Larsen & Toubro 4094.95
Rail Vikas Nigam 303.10
NCC 161.30
KEC International 580.10
Kalpataru Projects 1232.90
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