KNR Constructions has transferred its 49% stake in subsidiary company ie KNR Shankarampet Projects (SPV) to Cube Highways and Infrastructure III. The transaction is contemplated to be completed in two stages, the first stage of transfer of 49% is under current intimation and the second stage scheduled to be completed after expiry of mandatory lock-in period as per the Concession Agreement subject to various regulatory approvals.
The company has invested Rs 126.81 crore (in form of equity & Sub debt) for which the company has received of Rs 108.51 crore against transfer of 49% stake and repayment of entire Sub debt through this transaction and for the balance transfer of 51% stake, the company is expected to receive a sum of Rs 37.67 crore, which may undergo some adjustments at the time of Second Closing.
KNR Constructions 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.
Company Name | CMP |
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Larsen & Toubro | 3643.00 |
Rail Vikas Nigam | 284.75 |
KEC International | 729.90 |
Kalpataru Projects | 1191.25 |
NCC | 250.20 |
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