Gayatri Projects Ltd (GPL) the infrastructure firm is going to sell stake in Western UP Tollway Ltd (WUPTL).

During last year, the government has allowed developers to divest 100 percent equity in projects two years after the completion of such schemes, a move aimed at fast-tracking highway projects by making additional funds available for investments.

The company said in a BSE filing that “As part of strategic initiatives to divest the road projects, NCC Ltd and GPL alongwith its subsidiary Gayatri Infra Ventures Ltd, have executed a share purchase agreement on January 19 with Cube Highways and Infrastructure to sell their entire shareholding in WUPTL.”

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