Unity Infraprojects soars on stake sale buzz
The company is looking to sell 26% stake in two special project vehicles (SPVs) to private equity players.
Unity Infraprojects has soared over 9% to Rs 44.75, on back of huge volumes on buzz that the company is looking to sell 26% stake in two special project vehicles (SPVs) to private equity players.
“These SPVs pertained to the company’s land & hotel projects, include a 30 year built-operate-and-transfer (BOT) project in Nagpur and the other is a real estate project in Bangalore,” the TV channel report suggests.
The stock opened at Rs 42.80 and hit a high of Rs 44.80 on the National Stock Exchange. As many as a combined 1.59 million shares representing 2% of total equity of the company have changed hands on the counter so far on both the exchanges.