Acquires additional 5.36% stake to increase total holding to 36.86% in Vijay Nirman
Kridhan Infra has acquired an additional 5.36% stake in Vijay Nirman Company. As a part of this transaction, VNC has allotted 14,99,475 fresh equity shares to KIL. Post this transaction KIL holding in Vijay Nirman has increased to 36.86%.The Company had signed an SSA for increasing its stake to 50.5% and this transaction is a part of that agreement.
VNC is an excellent operational and strategic fit with Kridhan's existing business and will create significant long-term value for its shareholders. Through this strategic acquisition, Kridhan Infra will strengthens its position in India in the EPC segment. The acquisition provides Kridhan with a strong execution team to complement its superior and unmatched skill set in road and bridge works, foundation engineering, micro-tunnelling, flyovers, landscaping, and others.
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