Gayatri Highways acquires 23% stake in HKR Roadways from Kotak Special Situations Fund

M&A / JV 23 Jun 2026 · Announced· ✓ Verified

Gayatri Highways, a National Highways Authority of India (NHAI) contractor and infrastructure developer, has acquired a material 23% stake in HKR Roadways Limited from Kotak Special Situations Fund, a mid-market PE investor. HKR Roadways is an established toll-road operator and road infrastructure entity. The transaction was disclosed to NSE on 23 June 2026 as a regulatory update. The consideration amount, closing conditions, and post-acquisition governance structure (board seats, call/put provisions, exit timelines) have not been disclosed in the primary NSE filing.

Why it mattersThe acquisition signals structured PE exit (Kotak SSF) and consolidation in toll-road operations; requires SEBI shareholding disclosure norms (DIP II) and likely NCLT-monitored concession assignment protocols if HKR operates under road concessions.
Counsel—
SectorInfrastructure
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