GR Infraprojects Limited (GRIL) announced on March 25, 2026, that it has executed Share Purchase Agreements with Indus Infra Trust to sell 100% equity in three subsidiaries: GBUHPL, GUBHPL, and GEKEPL. The total consideration for the divestiture amounts to approximately ₹2.697 Crores across the three entities. The transfer completion is anticipated on or before June 30, 2026, subject to contractual obligations being met.
Divestiture of Highway Subsidiaries Announced
GR Infraprojects Limited (GRIL) formally intimated the execution of a Share Purchase Agreement (SPA) on March 25, 2026. The agreement is with Indus Infra Trust for the divestiture of 100% equity held by GRIL in its wholly owned subsidiaries:
- GR Bilaspur Urga Highway Private Limited (“GBUHPL”)
- GR Ujjain Badnawar Highway Private Limited (“GUBHPL”)
- GR Ena Kim Expressway Private Limited (“GEKEPL”)
Upon completion, GBUHPL, GUBHPL, and GEKEPL will no longer be subsidiaries of the Company. The transfer of the material subsidiary, GR Ena Kim Expressway Private Limited (GEKEPL), received requisite shareholder approval via postal ballot on March 20, 2026.
Financial Impact and Transaction Value
The disclosure details the financial contribution of the subsidiaries as of March 31, 2025. For the last fiscal year, the combined turnover/revenue contribution was substantial, with GEKEPL contributing 10.19% (Rs. 75,384 Lakhs) to Consolidated Income, and 0.97% (Rs. 8,255.86 Lakhs) to Consolidated Net Worth. GBUHPL and GUBHPL contributed 8.20% and 4.30% to income, respectively.
Aggregate Consideration Breakdown
The total consideration received for the sale and transfer of the entire equity share capital across all three entities is substantial:
- GBUHPL Consideration: Rs. 1,02,93,01,000/- (One Hundred Two Crore Ninety Three Lakhs One Thousand Only).
- GUBHPL Consideration: Rs. 16,50,94,000/- (INR Sixteen Crore Fifty Lakh Ninety Four Thousand Only).
- GEKEPL Consideration: Rs. 1,53,78,00,000/- (INR One Hundred Fifty Three Crore Seventy Eight Lakhs Only).
The expected date for the final completion of sale/disposal for all three transactions is set for on or before June 30, 2026.
Buyer Details and Related Party Status
The buyer for all three transactions is Indus Infra Trust. The Trust is not affiliated with the Promoter/Promoter Group/Group Companies of GR Infraprojects Limited. However, it is confirmed that Indus Infra Trust is a related party of the Company, and the transaction is being conducted at “arms’ length”.
Source: BSE
