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
26 September, 2017 16:24 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
GE Shipping takes delivery of secondhand medium gas carrier - 26-Sep-2017 11:37
Infosys accelerates private cloud adoption with OpenStack solution - 26-Sep-2017 10:09
SBI revises service charges on maintaining monthly average balance - 26-Sep-2017 10:04
Vivimed Labs inks pacts to facilitate investment of USD 42.5 mn - 26-Sep-2017 09:56
Gayatri Projects' JV bags order worth Rs 14.83 bn - 25-Sep-2017 15:15
Lupin receives USFDA approval for generic Clobex lotion - 25-Sep-2017 14:53
Suven Life Sciences secures product patents in India, Japan - 25-Sep-2017 12:10
Infosys' arm enters into partnership with ToneTag - 22-Sep-2017 15:25
REC gets nod to incorporate 5 project specific SPVs as WOS - 22-Sep-2017 11:51
KNR Constructions' JV bags order worth Rs 8.84 bn - 22-Sep-2017 10:09
Cox & Kings owned Meininger Hotels inks pact with Swiss developer - 22-Sep-2017 10:05
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