To acquire 27.2% stake in Dhule Palesar Tollway from Sadbhav Engineering subsequently
Sadbhav Infrastructure Project has completed the acquisition of 60.06% equity stake from JV partner HCC Concessions and 11.90% equity stake from John Laing Investments and John Laing Investments Mauritius (No. 1) (together called JLL) in Dhule Palesner Tollway.Sadbhav Infrastructure Project paid Rs 142.94 crore to HCC Concessions towards Tranche 1 payment and Rs 8.19 crore to JLL as against the total book order of Rs 214.52 crore.
Sadbhav Infrastructure Project (SIPL) shall also acquire 27.2% equity stake in the company from its parent company, Sadbhav Engineering (SEL) for which purchase consideration is already paid by SIPL to SEL.
Upon completion of the actual transfer of shares as stated above, SIPL will hold 100% of the equity shares in Dhule Palesner Tollway.
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