Adani Enterprises to acquire Sadbhav Infraās Maharashtra check post arm
The Adani group, through its arm Adani Road Transport, will initially acquire a 49% stake in MBCPNL, with an option to acquire additional stake in the company subject to regulatory approval.
CPP invests Rs 1,005 cr more in Indinfravit for additional 16% stake
Indinfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects since 2018 to acquire and maintain brownfield road concessions.
Sadbhav Infrastructure Projects Q4 consolidated net profit at Rs 1,287 crore
The highways builder had clocked a consolidated net loss before minority interest of Rs 86.42 crore in the corresponding period last year, the company said in a regulatory filing to the BSE.
Under the agreement, Sadbhav has received consideration by way of a preferential issue of units of IndInfravit (amounting to 10 percent on post-issue basis) as well as cash.
Sadbhav Infra climbs 8% on talks of consolidation with engineering firm
Sadbhav Infrastructure Project (SIPL), a subsidiary of Sadbhav Engineering, was incorporated as an asset holding company for road and other infrastructure BOT projects.