Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
19 April, 2018 19:01 IST
IRB Infra concludes acquisition of balance 26% stake in MVR
Source: IRIS | 20 Mar, 2017, 10.14AM
Comments  |  Post Comment

IRB Infrastructure Developers has completed the process of acquisition of remaining 26% stake in M.V.R. Infrastructure and Tollways (MVR). The company has completed the acquisition from its earlier promoters and other shareholders subsequent to NHAI approval. Consequently, MVR has now become wholly owned subsidiary of the company.

On Feb. 23, 2017 the company announced that Kishangarh Gulabpura Tollway Private, wholly-owned Subsidiary of the Company, has now executed Concession Agreement with NHAI for the project of Six laning of Kishangarh to Gulabpura section of NH-79A and NH-79 in the State of Rajasthan (Length 90.000km) on DBFOT (Toll) under NLIDP Phase-V Package-1.
 
The project is on DBFOT Pattern. The estimated project cost of the company is approximately Rs 15.30 billion. The concession period of the project is 20 years including construction period of 910 days.



IRB Infrastructure Developers Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Prism Cement is now Prism Johnson - 19-Apr-2018 15:51
NACL Ind enters into strategic alliance with BioWorks - 19-Apr-2018 15:25
Ramco Systems partners with L3 MAS - 19-Apr-2018 15:21
MCX inks pact with Northern India Textiles Mills' Association - 19-Apr-2018 15:16
BP and Reliance sanction second phase of integrated KG D6 development - 19-Apr-2018 13:45
IndusInd Bank Q4 profit grows 27% to Rs 9.53 bn - 19-Apr-2018 13:40
Reliance Infra wins EPC contract worth Rs 7.74 bn - 19-Apr-2018 12:07
WABAG secures Rs 2.53 bn order under Namami Gange scheme - 19-Apr-2018 11:39
UltraTech Cement commissions new plant in Madhya Pradesh - 19-Apr-2018 11:33
Vascon Engineers receives work order worth Rs 1.19 bn - 19-Apr-2018 11:27
Magma Fincorp raises Rs 5 bn through QIP route - 19-Apr-2018 10:15
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer