Date: June 23, 2026

Acquisition Update

Gayatri Highways Limited provides an update on its proposed acquisition of 23.00% equity share capital in HKR Roadways Limited. The company had previously disclosed this acquisition on February 12, 2026, with an indicative completion date of June 30, 2026. This update extends the indicative time for completion of the acquisition to on or before September 30, 2026. The extension is required because HKR Roadways Limited must comply with certain conditions obligated under the Securities Purchase Agreement dated February 12, 2026. All other terms relating to the sale remain unchanged.

The acquisition involves purchasing approximately 10,67,729 fully paid-up equity shares of face value ₹10 each, representing 23.00% of the equity share capital in HKR Roadways Limited from Kotak Special Situations Fund.

Annexure-1 Disclosure Details

Target Company Information

  • Name: HKR Roadways Limited
  • Business: Roadways business engaged in infrastructure contracting industry
  • Location: Hyderabad
  • Revenue: ₹26,402.61 lakhs in FY 2024-25

Acquisition Details

  • Stake Percentage: 23.00%
  • Number of Shares: 10,67,729 fully paid-up equity shares of face value ₹10 each
  • Seller: Kotak Special Situations Fund
  • Purpose: The acquisition is in line with Gayatri Highways Limited's business of engaging in infrastructure contracting and will be beneficial for the future growth prospects of the company

Transaction Structure

The acquisition is part of a Securities Purchase Agreement dated February 12, 2026, among Cube Highways and Infrastructure V PTE. Limited (as the Purchaser), Kotak Special Situations Fund and Gayatri Highways Limited (as the Sellers), and HKR Roadways Limited.

Regulatory Approvals

The transaction requires approvals from the Government of Telangana and other relevant authorities, which have been obtained separately through an agreement.

Historical Financials of Target Company

  • FY 2024-25: Revenue ₹26,402.61 lakhs
  • FY 2023-24: Revenue ₹24,578.30 lakhs
  • FY 2022-23: Revenue ₹22,239.75 lakhs

Geographic Presence

The target company HKR Roadways Limited operates in India.