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16-Aug2016

Kridhan Infra trades jubilantly as its arm acquires 50.2% stake in SHL

Kridhan Infra is currently trading at Rs. 82.90, up by 5.35 points or 6.90% from its previous closing of Rs. 77.55 on the BSE.

The scrip opened at Rs. 79.70 and has touched a high and low of Rs. 86.25 and Rs. 79.35 respectively. So far 35093 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 125.70 on 01-Jan-2016 and a 52 week low of Rs. 72.00 on 18-Sep-2015.

Last one week high and low of the scrip stood at Rs. 86.25 and Rs. 72.30 respectively. The current market cap of the company is Rs. 589.40 crore.

The promoters holding in the company stood at 64.46%, while institutions and non-institutions held 0.81% and 34.73% respectively.

Kridhan Infra through its Singapore subsidiary - KH Foges has acquired a majority stake of 50.2% with Singapore's leading public listed EPC company 'Swee Hong' (SHL). Pursuant to the agreement, KH Foges has subscribed to 1400 million shares representing 50.2% of the enlarged share capital in SHL and 500 million new warrants to subscribe for additional shares in SHL. Each warrant entitles the holder to subscribe for one new share in SHL.

Swee Hong is one of the leading EPC Company in Singapore listed on the Main Board of Singapore Stock Exchange (SGX), engages in the civil engineering and tunneling works in Singapore with over 50 years of experience. Over the years, Swee Hong has grown from strength to strength to cover entire spectrum of EPC services with expertise in tunneling, sewer works, bridge works, roads works, flyovers, among others. The EPC order book of SHL stood at SGD 120 million as on March 31, 2016.

Kridhan Infra, an ISO 9001:2008 certified company, is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country.


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