Highway Infrastructure Limited announced several key developments, including a proposal to increase its authorized share capital by issuing warrants convertible into equity shares to promoters and a related party transaction involving the acquisition of a controlling stake in Indore Highway Real Estates Private Limited. The warrant issuance aims to raise capital and strengthen the company's financial position, with the warrants convertible into equity shares within 18 months. Simultaneously, the acquisition of Indore Highway Real Estates, an infrastructure company, will establish a subsidiary for Highway Infrastructure Limited, expanding its presence in the infrastructure sector. The acquisition is structured as a related party transaction, conducted at arm's length based on a valuation report, and is expected to be completed within approximately one month. Detailed information regarding the transactions, including investor names, pricing, and acquisition specifics, has been disclosed in accompanying annexures.
