Kridhan Infra Limited's Promoter Holding raises to 47.15% with purchase of 1,08,000 equity shares
Deepthi | Myequity news | Date : 01-10-2018 8:45:00 IST
Kridhan Infra Limited (KIL) has announced that the company’s Promoter and Managing Director, Mr. Anil Dhanpatlal Agrawal, purchased 1,08,000 equity shares from the open market at an average price of INR 47.57 per share. With this acquisition, the total promoter holding in Kridhan Infra Limited has increased to 47.15%.
Mr. Agrawal stated that the recent decline in the company’s share prices offered a good opportunity for him to consolidate promoter holding. This recent purchase transaction by the company’s promoter & MD re-iterates his confidence in the company’s strong growth prospects and KIL’s unique position within the Asian infrastructure industry.
Kridhan Infra Limited is well positioned to deliver superior growth in both India and Singapore. During FY18, the company’s consolidated proforma revenue increased 2.3x to INR 15.8 billion with EBITDA margins of over 12%. KIL is on track to meet its FY19 consolidated revenue guidance of INR 18-20 billion with sustainable EBITDA margins of 12%-13%. Keeping in- line with its guidance of superior growth, Kridhan Infra’s Indian associate, VNC has already won new orders worth INR 7 billion in FY19.
About Kridhan Infra:
Established in 2006 with headquarters in Mumbai, Kridhan Infra is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India. Within a short span of time, KIL expanded its business to Singapore, Myanmar, Malaysia, and other South East Asian countries. The company acquired KH Foges in 2012, the then ninth largest foundation engineering company in Singapore. Using its strong technical acumen in the piling segment, KH Foges is now Singapore’s second largest foundation engineering company. KIL entered the EPC space with the acquisition of Swee Hong Ltd. – a 50 year old civil construction company in Singapore with several iconic buildings and businesses to its credit. KIL strengthened its India business with the recent acquisition of Vijay Nirman Company. VNC is critically acclaimed as the leading bridgemaker in India with over 30 years of operations. The company has completed over 400 projects and has an exceptional reputation in civil engineering design and project management.