Monday , September 27 2021

Sadbhav Infrastructure Project shines as its arm wins arbitration award against NHAI

Sadbhav Infrastructure Project is currently trading at Rs. 63.95, up by 1.20 points or 1.91% from its previous closing of Rs. 62.75 on the BSE.

The scrip opened at Rs. 63.75 and has touched a high and low of Rs. 63.95 and Rs. 62.00 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 132.40 on 17-Sep-2018 and a 52 week low of Rs. 45.00 on 18-Jul-2019.

Last one week high and low of the scrip stood at Rs. 77.90 and Rs. 62.00 respectively. The current market cap of the company is Rs. 2183.80 crore.

The promoters holding in the company stood at 69.63%, while Institutions and Non-Institutions held 17.07% and 13.31% respectively.

Sadbhav Infrastructure Project’s Wholly Owned Subsidiary — Dhule Palesner Tollway (DPTL) has won an arbitration award against National Highways Authority of India (NHAI) of Rs 56.39 crore (including interest upto the date of award of Rs 12.44 crore). DPTL shall receive interest at the rate of 15.80% from October 27, 2019 till final payment.

As per Restated Share Purchase Agreement (RSPA) entered into on October 28, 2015, 60% of the awarded amount (net of taxes and expenses) shall be paid to HCC Concessions.

Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specializes in the development, operation and maintenance of highways, roads and related projects. The company, a subsidiary of Sadbhav Engineering (SEL), was incorporated in 2007 as a developer and operator for highways, road and related projects on a BOT basis.

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