Gayatri Highways Ltd NSE 7.14 % on Saturday said it has proposed to acquire 13 per cent of equity share capital in HKR Roadways from the latter’s existing shareholder. The existing shareholder of HKR Roadways has agreed for sale of 6,03,498 fully paid up equity shares of face value of Rs 10 each aggregating to Rs 60,34,980, Gayatri Highways said in a BSE filing.
HKR Roadways is engaged in the business of four-laning of roads in Telangana under Public Private Partnership on build, operate and transfer (BOT) basis and to collect toll, charges and fees from the users of the said project.
Total revenue of HKR Roadways was Rs 187.44 crore in 2019-20 and the acquisition is expected to be completed within 60 days from the date of acceptance of sale of equity shares by the shareholders of HKR Roadways, it added.