Sadbhav Infrastructure Project Limited board to consider issue of NCDs
Posted On: 2021-01-22 08:42:22 (Time Zone: Arizona, USA)
A meeting of the Board of Directors of Sadbhav Infrastructure Project Limited will be held on Thursday, 28th January, 2021, to consider and approve the issuance of Non-Convertible Debentures amounting up to Rs. 700 Crores Only on private placement basis in one or more tranches, if required, pursuant to special resolution passed by the shareholders of the Company at the 14th Annual General Meeting held on 29th September, 2020.
Shares of Sadbhav Infrastructure Project Ltd was last trading in BSE at Rs.18.6 as compared to the previous close of Rs. 18.8. The total number of shares traded during the day was 27210 in over 159 trades.
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MUMBAI: A rally in financials drove benchmark equity indices to another all-time high on Monday, in a session that saw Nifty moving above the previous swing high. Benchmark Sensex rose 380 points to 47,354 points, while peer Nifty climbed 124 points to 13,873 points.
Sadbhav Infrastructure Project fell 3.49% to Rs 20.75, extending losses to third consecutive session.
The stock has decline 11.51% in three days from its recent closing high of Rs 23.45 on 7 December 2020.
During market hours yesterday, the construction company said that the National Highways Authority of India (NHAI) had issued a provisional completion certificate for 31.40 kms length (out of 42.791 km) with effect from 31 October 2019 for Sadbhav Rudrapur Highway (SRHPL), a wholly owned subsidiary of the company. Consequently, SRHPL is entitled to receive annuity payments w.e.f. 31 October 2019 from NHAI, the company said in a regulatory filing.
The provisional completion certificate is for a project that involves four-laning of about 43 kms of Rampur-Kathgodam section of National Highway 87 (NH-87) in Uttar Pradesh. The project was awarded to the company under the National Highways Development Programme-III (NHDP-III) on hybrid annuity mode.