Ramky Infra divests stake in Gwalior SPV

The Hyderabad-based infrastructure company, Ramky Infrastructure has divested part of its stake in a special purpose vehicle created to execute a road project in Madhya Pradesh to Era Infra.

Ramky brought down to 26 per cent its 51 per cent stake in the Gwalior Bypass Road Project, offering the remaining stake to Era Infra Engineering Limited, its project partner.

The Board of Directors of the Company, at its meeting on Tuesday, approved the execution of the shareholders’ agreement with Era Infrastructure (India) Ltd for dilution of equity in Gwalior Bypass Projects Ltd.