Sadbhav Infra gets approval from authorities for stake transfer of 8 SPVs to Indinfravit Trust

Authority approval for Ahmedabad Ring Road Infrastructure Limitedis under process and at an advanced stage, the company added.

Jan 14, 2020 07:01 IST India Infoline News Service

Sadbhav Infrastructure Projects Ltd. informed the exchanges that it has received final approval from various authorities for transfer of 100% stake of below mentioned 8 Special Purpose Vehicles (SPVs) from Sadbhav Infrastructure Project Limited (SIPL) to Indinfravit Trust (Indinfravit).

Authority approval for Ahmedabad Ring Road Infrastructure Limitedis under process and at an advanced stage, the company added. Closure of the other eight SPVs is independent of ARRIL.

Further, the company currently expects to receive the stake sale proceeds in respect of above eight SPVs soon after the declaration of the results of unitholders meeting on January 31, 2020, subject to the approval of the unitholders of the IndInfravit Trust, satisfaction of the applicable terms and conditions of the relevant definitive agreements and compliance with applicable law.

Sadbhav Infrastructure Projects Ltd is currently trading at Rs41.50 down by Rs0.4 or 0.95% from its previous closing of Rs41.90 on the BSE.

The scrip opened at Rs42 and has touched a high and low of Rs42.80 and Rs41.45 respectively. So far 18,87,316 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs1,475.82cr.


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