The trading volumes on the counter more than doubled with a combined 6.24 million shares changed hands on the BSE and NSE till 12:17 PM.
On Monday, December 18, 2017, Government of Singapore acquired 895,058 equity shares representing or 1.2% stake in Kridhan Infra at price of Rs 92 per share on the BSE, bulk deal data shows.
Mustray Impex and Services Private Limited had sold more than half or 2 million shares (2.7% stake) in the construction & engineering company at Rs 92.21 per share, data shows.
According to shareholding pattern as of September 30, 2017, Mustray Impex and Services Private Limited held 3 million shares or 4.05% stake in the company.
The name of the other buyers not immediately ascertained.
Kridhan Infra sees significant revenue increase of over two times and maintaining 13%-14% Ebitda (earnings before interest, taxes, depreciation and amortization) margin in FY19.
India EPC business to contribute more than 50% of the FY19 revenue, also from Vijay Nirman Construction Company (VNC), which have strong order book of over Rs 2,600 crore. The significant pick-up in Singapore EPC business as Swee Hong bids for new projects, the company said in investor presentation.
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