Gayatri Highways Limited has pushed its acquisition of a 23% stake in HKR Roadways Limited to September 30, 2026, from June 30, 2026. This delay is to meet compliance conditions. HKR Roadways operates a key road project and shows consistent revenue growth.
Gayatri Highways Extends Acquisition Timeline
Gayatri Highways Limited has announced a revised timeline for its proposed acquisition of a 23% equity stake in HKR Roadways Limited.
The company has extended the indicative completion deadline from June 30, 2026, to September 30, 2026. This three-month extension is necessary for HKR Roadways Limited to fulfill specific compliance conditions outlined in the Securities Purchase Agreement dated February 12, 2026.
Acquisition Details
- Stake to be Acquired: 23.00%
- Number of Shares: 10,67,729
- Face Value: ₹10 per share
- New Completion Deadline: September 30, 2026
- Consideration: Cash
The final cash consideration for the acquisition is yet to be disclosed and will be determined upon the consummation of the Securities Purchase Agreement.
Target Company Performance
HKR Roadways Limited manages the Hyderabad-Karimnagar-Ramagundam Road (SH-1) project under a Build, Operate, and Transfer (BOT) model. The company has exhibited consistent revenue growth over the past three fiscal years:
- FY 2024-25: ₹264.03 crore
- FY 2023-24: ₹245.78 crore
- FY 2022-23: ₹225.40 crore
Why This Matters
This deadline extension is a procedural adjustment to ensure adherence to the agreement's terms. The strategic goal of the acquisition remains unchanged. Investors should focus on the eventual completion of the deal and the final undisclosed acquisition cost. The consistent revenue performance of HKR Roadways Limited indicates the underlying asset's potential value.
Reader Takeaway: Acquisition timeline extended; strong revenue growth in target asset noted.