G R Infraprojects Limited has informed the Exchange about execution of Share Purchase Agreements.
GRINFRA · price
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On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 2.3 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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G R Infraprojects has signed Share Purchase Agreements to sell its 100% stake in three wholly owned highway subsidiaries — GR Bilaspur Urga Highway, GR Ujjain Badnawar Highway, and GR Ena Kim Expressway — to Indus Infra Trust for an aggregate consideration of about Rs. 273.22 crore (Rs. 102.93 Cr + Rs. 16.51 Cr + Rs. 153.78 Cr). Together, these three SPVs contributed roughly 22.7% of the company's consolidated income and around 2.4% of consolidated net worth in FY25. Indus Infra Trust is a related party (it is the company's own InvIT, registered at GR One Tower, Gurugram), and the transaction is stated to be at arms' length. Shareholder approval for the material subsidiary (GEKEPL) was secured via postal ballot on March 20, 2026, and completion is expected on or before June 30, 2026.
This is a meaningful divestment — about a fifth of consolidated revenue moves from the company to its own InvIT, which could trim near-term earnings from these assets but unlock capital tied up in SPVs. Investors will watch how the proceeds are deployed (debt reduction, new projects) and whether further rounds of InvIT monetisation follow.