GR Infraprojects incorporates GR Highways Investment Manager

25 Mar 2022 , 09:20 AM

GR Infraprojects Limited has formed a wholly-owned subsidiary in the name and style of ‘GR Highways Investment Manager Private Limited’ on March 23, 2022 in the state of Haryana vide certificate of incorporation granted by Central Registration Centre, Ministry of Corporate Affairs.

The Company will fully subscribe10000 equity shares of GR Highways Investment Manager of the face value of Rs10/‐ each aggregating to Rs1 lakh.

At around 9.23 am, GR Infraprojects Limited was trading at Rs1456.05 per piece up Rs12.65 or 0.88% on the BSE.

The company said that the incorporation of wholly-owned subsidiary is for:

a) to carry on the business of managing the assets of, and acting as an investment manager to, trusts or funds including investment funds, income or capital funds, venture capital funds, alternative investment funds, real estate investment trust, infrastructure investment trust, taxable or tax exempt funds, provident, pensions, gratuity and superannuation funds, charitable funds, trusts or consortium funds, or any other funds, trusts or pooled investment vehicles, by whatever name called, whether in India or outside India, and to manage, organise, handle, or operate, and administer all such types of trusts, funds and pooled investment vehicles and  the assets of such funds or vehicles.

(b)  To invest and deal with the funds of the infrastructure investment trust in accordance with applicable law, from time to time, in such assets, properties, securities, shares, bullion, or investments or otherwise from time to time and undertake such other activity as may be required for the purpose or in connection with such investments.

(c)  To act as representative or nominee of or for any special purpose vehicles, infrastructure investment trusts, real estate investment trusts, or any other portfolio of securities, infrastructure projects and/or assets of any kind, formed or established by the Company or by any other person including bodies corporate, limited liability partnerships, trusts, societies, associations of persons.