Announced Fri, 28 Aug · 16:50 IST
Patel Engineering sells 32 percent stake in ACP Tollways for Rs 55 crore
PATELENG · price
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Price reaction · full curve 14 horizons · vs prior close
-2.2%1-day move
₹28.38
prior close
₹28.15
base price
After-mkt
timing
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AI summary
Patel Engineering has completed the sale of its 32 percent stake (about 85 lakh shares of Rs 100 face value) in associate company ACP Tollways to APCO Infratech Private Limited and others for Rs 55 crore. ACP had nil turnover, a net worth of Rs 26.02 crore (0.59 percent of consolidated net worth), and a loss of Rs 12.73 crore in FY26. Carrying value of the investment was Rs 26.02 crore. Buyers are not related to promoters.
Likely market impact
Exit from a loss-making associate with no revenue; sale at Rs 55 cr versus carrying value of Rs 26 cr suggests a healthy gain and frees up capital from a non-performing asset.