GR Infraprojects Limited announced the complete transfer of its entire equity share capital in three wholly-owned subsidiaries: GR Bilaspur Urga Highway, GR Ujjain Badnawar Highway, and GR Ena Kim Expressway Private Limited. The total aggregate consideration received across the three sales amounts to approximately ₹2.73 lakh crore. The transactions, finalized on March 25, 2026, involved the sale to Indus Infra Trust, which is considered a related party, executed on an “arms’ length” basis.
Divestment of Highway Subsidiary Assets
GR Infraprojects Limited (GRIL) has executed the sale and transfer of the entire equity share capital of three subsidiaries on March 25, 2026. This strategic divestment involves wholly-owned entities currently operating major highway projects.
The subsidiaries sold are:
- GR Bilaspur Urga Highway Private Limited (“GBUHPL”)
- GR Ujjain Badnawar Highway Private Limited (“GUBHPL”)
- GR Ena Kim Expressway Private Limited (“GEKEPL”)
Financial Contributions of Divested Units (as of March 31, 2025)
The document details the last reported financial contribution these units made to the consolidated figures of GRIL before the transfer, highlighting their relative significance:
GR Bilaspur Urga Highway Private Limited (GBUHPL):
- Consolidated Income Contribution: ₹60,616.12 Lakhs, representing 8.20% of total income.
- Consolidated Net Worth Contribution: ₹10,242.46 Lakhs, representing 1.21% of net worth.
GR Ujjain Badnawar Highway Private Limited (GUBHPL):
- Consolidated Income Contribution: ₹31,813.35 Lakhs, representing 4.30% of total income.
- Consolidated Net Worth Contribution: ₹2,111.37 Lakhs, representing 0.25% of net worth.
GR Ena Kim Expressway Private Limited (GEKEPL) (Material Subsidiary):
- Consolidated Income Contribution: ₹75,384 Lakhs, representing 10.19% of total income.
- Consolidated Net Worth Contribution: ₹8,255.86 Lakhs, representing 0.97% of net worth.
Transaction Details and Consideration
The transfer was executed for an aggregate consideration totaling hundreds of crores:
- GBUHPL: Aggregate consideration received was Rs. 1,02,93,01,000/- (Rupees One Hundred Two Crore Ninety Three Lakhs One Thousand Only). The expected date of completion was March 25, 2026.
- GUBHPL: Aggregate consideration received was Rs. 16,50,94,000/- (Rupees Sixteen Crore Fifty Lakh Ninety Four Thousand Only). The expected date of completion was March 25, 2026.
- GEKEPL: Aggregate consideration received was Rs. 1,53,78,00,000/- (Rupees One Hundred Fifty Three Crore Seventy Eight Lakhs Only). The expected date of completion was March 25, 2026.
Buyer Information and Related Party Status
The buyer in all three transactions is Indus Infra Trust. The company confirmed that the Trust does not belong to the Promoter/Promoter Group/Group Companies of GR Infraprojects Limited. However, the transaction is recognized as falling within related party transactions, and GRIL confirms the transaction is proposed to be executed at “arms’ length”. The sale does not fall under any Scheme of Arrangement.
Source: BSE
