Dilip Buildcon has transferred its remaining 51% equity stake in its subsidiary company viz. DBL Mangalwedha Solapur Highways (SPV) to Cube Highways and Infrastructure III (Purchaser).
As per the transaction structure, the 100% stake transfer of the Company in aforesaid SPV was to be consummated in two stages, of which the first stage of transfer of 49% equity stake was completed on December 31, 2021 and now the second stage of transfer for remaining 51% Equity shares has been completed on July 28, 2022.
Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.
