Gayatri Projects to create a separate firm by spinning off seven toll road assets

Gayatri Projects Limited has decided to spin off its seven toll road assets into a separate company which will be called Gayatri Highways. The new entity will be listed on the stock exchanges before the end of 2017-18. Once listed, the existing shareholders of the parent company, Gayatri Projects, will be allotted shares on a one-to-one basis. Based on the same share allotment, the promoters, including Gayatri Projects, will hold 61.15 per cent in Gayatri Highways.