Monday , 18 October 2021
Breaking News
Gayatri Highways to acquire stake in Cyberabad Expressways

Gayatri Highways to acquire stake in Cyberabad Expressways

Gayatri Highways has proposed to acquire 11.54% of Equity Share Capital and 11.54% of Optionally Convertible Debentures (OCD’s) in Cyberabad Expressways from the existing security holder of the Cyberabad Expressways. The Existing Shareholder of Cyberabad Expressways has agreed for sale of their 11.54% equity shareholding (2,28,462 fully paid up equity shares of face value of Rs 10 each for a consideration of Rs 5.22 each share aggregating to Rs 11,92,572 and 11.54% of Optionally Convertible Debentures (OCD’s) [49,32,692 (OCD’s) of face value of Rs 10 each for a consideration of Rs 5.22 each debenture aggregating to Rs 2,57,48,652) to Gayatri Highways , Total consideration for acquisition amounting to Rs 2,69,41,224.

Gayatri Highways is engaged in the business of Construction and Maintenance of Motorways, Streets, Roads, Other Vehicular And Pedestrian Ways, Highways, Bridges, Tunnels And Subways. The company’s products and services range include Operation & Maintenance activities.