The investment of Rs 70 crore will be used for the execution and investment in AMISP projects. The amount will be invested in 2,80,00,000 equity shares, each with a face value of Rs 10, at a premium of Rs 15 per share. The investment will be made through cash consideration.
There will be no change in the percentage of shareholding of the company in Quantum. It will continue to remain a wholly owned subsidiary of the company.
There will be no change in the percentage of shareholding of NCC in Quantum, which will remain a wholly owned subsidiary of the company. The acquisition is expected to be completed on or before 31 March 2025.
Since Quantum is a wholly owned subsidiary, it is considered a related party of NCC. The transaction is classified as a related party transaction and is conducted at arm’s length. Apart from the shares held by NCC, the promoter, promoter group, and group companies have no interest in Quantum.
NCC is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, housing projects, roads, bridges and flyovers, water supply and environment projects, mining, power transmission lines, irrigation and hydrothermal power projects, etc.
The company’s consolidated net profit declined 12.45% to Rs 193.18 crore in Q3 FY25, compared with Rs 220.65 crore recorded in Q3 FY24. Revenue from operations increased 1.61% to Rs 5,344.52 crore in the third quarter of FY25 as against Rs 5,260.08 crore posted in Q3 FY24.
The scrip slipped 2.80% to Rs 173.75 on the BSE.