G R Infraprojects Limited has informed the Exchange about declaration of Interim Dividend and approval of Non-Binding Counter Offer received from Indus Infra Trust.
GRINFRA · price
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G R Infraprojects' board has approved an interim dividend of ₹2.50 per equity share (face value ₹5) for FY26, with a record date of 19th February 2026. Separately, the board has approved a non-binding counter offer from Indus Infra Trust to acquire 100% of three wholly-owned highway SPV subsidiaries: GR Ena Kim Expressway (contributing 10.19% of consolidated turnover at ~₹753.84 cr), GR Bilaspur Urga Highway (8.20%, ~₹606.16 cr), and GR Ujjain Badnawar Highway (4.30%, ~₹318.13 cr). Together, these three assets account for roughly 22.7% of the company's consolidated revenue. The deal is subject to shareholder approval via postal ballot, unitholder approval, and regulatory clearances, with expected completion by 30th April 2026. The transaction is classified as a related party deal (Indus Infra Trust is a related party) but is being done at arm's length; sale consideration has not been disclosed yet.
The combined sale of three core revenue-generating highway SPVs (~22.7% of turnover) to an InvIT represents a major asset monetisation move that will significantly reshape the company's revenue base and shift the business toward a more asset-light model. While the deal unlocks value and provides cash for debt reduction or new projects, the lack of disclosed consideration and the scale of assets being divested could create short-term uncertainty around valuations. The interim dividend of ₹2.50/share provides some near-term shareholder return support.