Shares of GR Infraprojects Ltd were trading on a flat note in the afternoon session on Friday after the firm said it has transferred 100% stake in its wholly owned subsidiary namely GR Galgalia Bahadurganj Highway Private Limited to Indus Infra Trust for Rs 22.55 crore. GR Infraprojects shares traded at Rs 1050.75 against the previous close of Rs 1047.15. Market cap of the firm stood at Rs 10,162 crore.
A total of 8881 shares of the firm changed hands amounting to a turnover of Rs 92.28 lakh.
G R Infraprojects shares have a beta of 1, indicating average volatility in a year.
In terms of technicals, the relative strength index (RSI) of the G R Infraprojects stock stands at 50.4, signaling it's trading neither in the overbought nor in the oversold zone.
"We hereby inform you that the Company has entered into Share Purchase Agreement on 27th March 2025 with Indus Infra Trust for transfer of 100% Equity shares being held by the Company in its wholly owned subsidiary namely GR Galgalia Bahadurganj Highway Private Limited (“GGBHPL”). The completion of transfer would depend on meeting of contractual obligations as required under the share purchase agreement. Upon completion of the aforesaid transfer, GGBHPL would cease to be wholly owned subsidiary of the Company. GR Galgalia Bahadurganj Highway Private Limited is not a material subsidiary of the Company," said the firm in a communication to bourses.
"Aggregate consideration for sale and transfer of the entire equity share capital of GR Galgalia Bahadurganj Highway Private Limited (the “GGBHPL”), held by the Company and its nominee(s) and assignment of unsecured loan availed by GGBHPL from the Company to Indus Infra Trust would be INR 2,255,801,191/-," it added. .
GR Infraprojects is engaged in construction of infrastructure facilities on Engineering, Procurement and Construction (EPC) and Built, Operate and Transfer (BOT) basis. The company also undertakes road infrastructure development projects through Special Purpose Vehicles (SPVs) as per the concession agreements.