Shrem Invit (NSEI:SHREMINVIT) agreed to acquire Portfolio Often Hybrid Annuity Model Of Dilip Buildcon Limited from Dilip Buildcon Limited (BSE:540047) on January 21, 2022. The deal is subject to approval from NHAI. As on April 1, 2023, Dilip Buildcon Limited received approval of National Highways Authority of India. As of November 15, 2022, Shrem Invit acquired 49% of DBL Sangli Borgaon Highways Pvt Ltd and entire stake in DBL Anandapuram Anakapalli Highways Pvt Ltd, DBL Gorhar Khairatunda Hishways Pvt Ltd, DBL Bellary Byrapura Hishways Pvt Ltd at a consideration of INR 2 billion. As of November 30, 2022, Shrem Invit acquired balance of 51% in DBL Sangli Borgaon Highways Ltd at a consideration of INR 462 million. As of February 25, 2023, Shrem Invit acquired 49% in DBL Chandikhole Bhadrak Highways Limited for INR 245 million. As of April 1, 2023, Shrem Invit acquired 49% in DBL Bangalore Nidagatta Highways Pvt Ltd and in Rewa Sidhi Highways Pvt Ltd wile entire stake in DBL Byrapura Challakere Highways Pvt Ltd. As of August 2, 2023, Shrem Invit acquired remaining 51% pf DBL Chandikhole Bhadrak Highways Limited and 51% of DBL Rewa Sidhi Highways Pvt Ltd for INR 420 million and INR 666 million respectively. S&R Associates acted as legal advisor to Dilip Buildcon Limited.
Shrem Invit (NSEI:SHREMINVIT) completed the acquisition of Portfolio Often Hybrid Annuity Model Of Dilip Buildcon Limited from Dilip Buildcon Limited (BSE:540047) on July 4, 2024.