Gayatri Highways Limited to sell 36.99% stake in HKR Roadways Ltd to Kotak Special Situations Fund.

Gayatri Highways Limited (the "Seller/Investee") has proposed to sell up to 36.99% of Equity Share Capital held by the Company in HKR Roadways Limited to Kotak Special Situations Fund (represented by its investment manager, Kotak Investment Advisors Limited) (the "Purchaser/Investor") under OTS (Onetime Settlement) Scheme.

Gayatri Highways Limited, Existing Shareholder of HKR Roadways Limited has agreed for sale of their equity shareholding to Kotak Special Situations Fund (represented by its investment manager, Kotak Investment Advisors Limited) 17,17,146 fully paid up equity shares of face value of INR 10 each aggregating to INR 1,71,71,460 (Rupees One Crore Seventy One Lakh Seventy One Thousand Four Hundred Sixty Only).

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