OTHER GROUP COMPANIES
market

Om Infra buys additional 2.28% stake in JV Bhilwara Jaipur Toll; stock surges ~3%

Prior to the acquisition, Bhilwara Jaipur Toll Road was a joint venture of the company, and post-acquisition it has become a subsidiary of the company.

November 25, 2022 1:15 IST | India Infoline News Service
Om Infra Limited has acquired an additional 2.28% shareholding of Bhilwara Jaipur Toll Road Private Limited by way of allotment through the conversion of loan into equity.

Prior to the acquisition, Bhilwara Jaipur Toll Road was a joint venture of the company, and post-acquisition it has become a subsidiary of the company.

The company has allotted 3,22,580 shares at a face value of Rs10 and a premium of Rs145 per share aggregating to Rs5 crore.

After the allotment of 3,22,580 shares, the company's shareholding will be 51.28%, making it a subsidiary of the company.

The primary goal of the company is to develop a two-lane road from Jaipur to Bhilwara, as well as to provide supervision and consultancy services for all types of infrastructure development projects.

At around 1.17 PM, Om Infra was trading 3.16% higher at Rs37.55, against previous close of Rs36.40 on NSE. It touched intraday high and low of Rs37.95 and Rs36 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp