Highway Infra to raise ₹498.2 Cr via warrants, acquire 51% in Indore Highway

Highway Infrastructure Limited announced a series of strategic decisions following its Board of Directors meeting. The company plans to increase its authorized share capital from ₹40 crore to ₹50 crore, subject to shareholder approval. Additionally, it approved the issuance of up to 1 crore warrants to its Promoter and Promoter Group at ₹49.82 per warrant, potentially raising ₹49.82 crore. The company also resolved to acquire a 51% stake in Indore Highway Real Estates Private Limited for approximately ₹39 lakh, based on a valuation report. An Extraordinary General Meeting (EGM) will be convened to seek shareholder approval for these proposals.