Sadbhav Engineering has signed definitive agreement to acquire stake in the two special purpose vehicles from joint venture (JV) partner GKC Projects.
Sadbhav will buy 40% stake in Hyderabad- Yadgiri Tollway (HYTPL) from GKC Projects. The company will hold 100% stake in HYTPL, upon completion of proposed acquisition.
The company will acquire 24% stake in Mysore- Bellary Highway (MBHPL) from GKC. Post completion of proposed acquisition, the company will hold 74% stake in MBHPL.
Shares of the company gained Rs 10.15, or 4.4%, to trade at Rs 240.70. The total volume of shares traded was 134,524 at the BSE (3.09 p.m., Thursday).