Infrastructure developer Dilip Buildcon Ltd has signed a term sheet with privately owned family business Chhatwal Group Trust (Shrem Group) to sell its entire stake in 24 of its road projects for Rs1,600 crore, the company said in a filing to stock exchanges.
The sale includes 14 operational road projects, four under construction projects and six projects under the hybrid annuity model (HAM), which are in different stages of construction and pre-construction.
