Kalthia Engineering And Construction Limited entered into a Memorandum of Understanding to acquire Sadbhav Bhavnagar Highway Limited and Sadbhav Una Highway Limited from Sadbhav Infrastructure Project Limited (NSEI:SADBHIN) for an enterprise value of INR 7.52 billion on January 27, 2023. The transaction is subject to regulatory approvals, lender approvals, approval from shareholders of Sadbhav Infrastructure Project and Consummation of Due Diligence Investigation. Sadbhav Bhavnagar Highway Limited and Sadbhav Una Highway Limited recorded total revenue of INR 2.01 billion and net worth of INR 1.99 billion for the financial year ended March 31, 2022.