AJR Infra and Tolling’s step-down wholly-owned subsidiary -- Ras Cities and Townships (RCTPL) has entered into a Memorandum of Understanding (MoU) on May 13, 2022 with the Promoters of Sony Mony Developers (SMDPL) to acquire 10,000 equity shares of Rs 10 each of SMDPL, being 100% of total paid-up capital of SMDPL.
Upon completion of the said acquisition, SMDPL shall become a step-down wholly-owned subsidiary of the company. The acquisition will provide RCTPL entry into real estate development.
AJR Infra and Tolling (AJRITL) is an infrastructure project development company incorporated by Gammon India Limited, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
