KNR Construction surges on entering into agreement with Cube Highways and Infrastructure

11 Feb 2019

KNR Construction is currently trading at Rs. 209.00, up by 2.05 points or 0.99% from its previous closing of Rs. 206.95 on the BSE.

The scrip opened at Rs. 206.30 and has touched a high and low of Rs. 209.00 and Rs. 205.20 respectively. So far 950 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 340.00 on 12-Feb-2018 and a 52 week low of Rs. 163.30 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 214.50 and Rs. 204.55 respectively. The current market cap of the company is Rs. 2889.69 crore.

The promoters holding in the company stood at 55.38%, while Institutions and Non-Institutions held 31.70% and 12.91% respectively.

KNR Construction has entered into Share Purchase Agreement with Cube Highways and Infrastructure III Pte for KNR Tirumala Infra (hereinafter referred to as the SPV). Pursuant to which the company will, in a phased manner, sell to the investor its entire shareholding in the SPV.

The transaction is contemplated to be completed in two stages, with the first stage scheduled to be completed after achievement of the Commercial Operation Date (COD) as per Concession Agreement and the second stage scheduled to be completed after expiry of mandatory lock-in period as per the Concession Agreement.

The sale is for one HAM project, which is at different stages of pre-construction. The company is expected to invest Rs 73.06 crore (in form of equity & Sub debt) against which the company is expected to receive a total of Rs 152.06 crore through this transaction, which may undergo some changes at the time of COD.

KNR Construction is a multi-domain infrastructure project development company providing (EPC) engineering, procurement and construction services across various fast growing sectors namely roads & highways, irrigation and urban water infrastructure management.

Related KNR Construction Ltd. Links:

KNR Construction Share Price

207.75 -1.15 (-0.55%) Mar 04, 18:59
1 Year Price Chart
Peers
Company Name CMP
Larsen & Toubro 1462.10
Rail Vikas Nigam 32.30
KEC International 473.15
NCC 92.60
PNC Infratech 267.75
View more..
Sensex vs KNR Construction
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback