Gayatri Highways to Acquire 23.00% Stake in HKR Roadways for INR 10 Each

Gayatri Highways Limited has proposed to acquire around 10,67,729 fully paid up equity shares of face value of INR 10 each representing 23.00% of Equity Share Capital in HKR Roadways Limited from Kotak Special Situations Fund. The Target Company is engaged in the business regarding four laning road in the state of Telangana under Public Private Partnership (PPP) as Build, Operate and Transfer (BOT) basis and to collect toll, charges and fees from the users of the said project. The Consideration of which will be decided at the time of consummation of proposed Securities Purchase Agreement.