Mumbai: Infrastructure focused Sadbhav group is merging its two listed entities Sadbhav Engineering Ltd, the flagship EPC services business and its listed subsidiary Sadbhav Infrastructure Projects Ltd, which builds and owns roads, ending the latter's short four year stint as an independently listed company. Sadbhav Infrastructure went public in September 2015, selling its shares at ₹103 apiece to investors in ₹425 crore initial public offering. Shares of Sadbhav Infrastructure closed at ₹44.2 apiece, down 1.12% on the BSE, while shares of Sadbhav Engineering closed at ₹138.85, up 0.54%. Sadbhav Infrastructure's market capitalization stood at ₹1,556 crore as on Friday, while Sadbhav Engineering had a market capitalization of ₹2,382 crore. According to a filing on late Saturday evening, Sadbhav Engineering told exchanges that shareholders of Sadbhav Infrastructure will get one share each in Sadbhav Engineering for three shares that they hold in the subsidiary company.

Source: Mint October 20, 2019 08:15 UTC