AJR Infra and Tolling has received approval from board of directors of the company to sell and transfer 21,43,950 equity shares of Rs 10 each ie. 30.90% equity stake held by the Company in Elgan India Martrade (formerly Eversun Sparkle Maritime Services) (Elgan India), associate of the Company to Mogra Investments (MIPL) for a total consideration of Rs 4.09 crore on the terms and conditions as contained in the draft SPA to be executed between the Company, Elgan India and MIPL. The Company is yet to execute the Share Purchase Agreement.
The Board of Directors of the Company at its meeting held on March 18, 2024, has approved the same.
AJR Infra and Tolling is an infrastructure project development company incorporated by Gammon India.
