The transaction is contemplated to be completed in two stages, the first stage of transfer of 49% is under current intimation and the second stage scheduled to be completed after expiry of mandatory lock-in period as per the Concession Agreement subject to various regulatory approvals.
The company has invested Rs. 126.81 crore (in form of equity & Sub debt) for which the Company has received of Rs. 108.51 crore against transfer of 49% stake and repayment of entire Sub debt through this transaction and for the balance transfer of 51% stake, the Company is expected to receive a sum of Rs 37.67 crore, which may undergo some adjustments at the time of Second Closing.
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