Sadbhav Infrastructure Project gains on executing binding Term Sheet to sell stakes in two SPVs
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Sadbhav Infrastructure Project is currently trading at Rs. 5.56, up by 0.21 points or 3.93% from its previous closing of Rs. 5.35 on the BSE.
The scrip opened at Rs. 5.50 and has touched a high and low of Rs. 5.56 and Rs. 5.20 respectively. So far 37212 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 14.80 on 03-Feb-2022 and a 52 week low of Rs. 4.95 on 21-Nov-2022.
Last one week high and low of the scrip stood at Rs. 5.80 and Rs. 5.20 respectively. The current market cap of the company is Rs. 191.61 crore.
The promoters holding in the company stood at 70.34%, while Institutions and Non-Institutions held 1.19% and 28.47% respectively.
Sadbhav Infrastructure Project has executed binding Term Sheet towards sale of equity shares of Sadbhav Bhavnagar Highway and Sadbhav Una Highway. The proposed sale of its equity share capital in Sadbhav Bhavnagar Highway and Sadbhav Una Highway (SPVs) (including that held by nominees), to Kalthia Group (Kalthia or the Buyer), in one or more tranches, subject to inter alia receipt of requisite regulatory approvals, lender approvals and shareholders' approvals to the extent required and satisfaction of the relevant conditions' precedent (the ‘Proposed Transaction’); and the execution of Definitive Agreements in connection with the Proposed Transaction.
The agreed aggregate consideration for sale is at an Enterprise Value of Rs 751.82 crore; subject to adjustments/fulfilment of the relevant matters arising out of due diligence process.
Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specialises in the development, operation and maintenance of highways, roads and related projects.
