Gayatri Highways Limited (GHL) has provided an update regarding the sale of its 49% stake in HKR Roadways Limited (HKR), an associate company. This disclosure serves as a continuation of the company's previous announcement dated February 12, 2026, regarding the execution of a Securities Purchase Agreement for this transaction.
The company now confirms that the sale completion has been extended and is expected to be finalized on or before September 30, 2026. This extension is required as HKR Roadways Limited must fulfill certain conditions obligated under the Securities Purchase Agreement dated February 12, 2026.
Financial Impact
- The transaction contributed approximately 0.63% to the net profit of Gayatri Highways Limited during the financial year 2024-25
- The company expects to receive INR 200 crore from the sale of securities in HKR Roadways
- An additional amount of INR 48 crore is expected to be received pertaining to this transaction
Transaction Details
- Nature: Sale of 49% of total paid-up equity share capital held in HKR Roadways Limited
- Agreement Date: February 12, 2026
- Expected Completion: On or before September 30, 2026
- Buyer: Kotak Special Situations Fund (KSSF)
- Seller: Gayatri Highways Limited
Related Party Considerations
The transaction falls within the definition of related party transactions as per regulatory requirements, though no additional liabilities or capital gains implications are specifically mentioned in the disclosure.