G R Infraprojects offloads three highway subsidiaries to Indus Infra Trust

G R Infraprojects Ltd. ( (IN:GRINFRA) ) has provided an announcement.

G R Infraprojects Ltd. has completed the sale and transfer of three wholly owned subsidiaries—GR Bilaspur Urga Highway, GR Ujjain Badnawar Highway, and GR Ena Kim Expressway—to Indus Infra Trust after receiving the agreed consideration. As a result, these entities, including GR Ena Kim Expressway which was classified as a material subsidiary and had shareholder approval via postal ballot, have ceased to be subsidiaries of the company.

The divested units collectively contributed notable portions of consolidated income, with GR Ena Kim Expressway alone accounting for over 10% of income in the last financial year, though their combined impact on consolidated net worth was relatively modest. The transaction marks a significant reshaping of G R Infraprojects’ project portfolio and balance sheet exposure to these highway assets, potentially altering its earnings mix while freeing capital tied up in the transferred subsidiaries.

More about G R Infraprojects Ltd.

G R Infraprojects Ltd. operates in the infrastructure and construction sector, focusing on highway and road projects executed through special purpose vehicles and project subsidiaries. The company develops, operates, and maintains expressways and highway assets, often structuring them as wholly owned subsidiaries that contribute to its consolidated income and net worth.

Average Trading Volume: 17,364

Technical Sentiment Signal: Sell

Current Market Cap: 81.62B INR

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