
The order has been awarded by a domestic entity and pertains to the operation and collection of user fees at the fee plaza. The contract is to be executed within 90 days. The promoter and promoter group companies have no interest in the entity awarding the contract, and the order does not fall under related party transactions.Also Read: Bumper Debut! Highway Infrastructure shares list at 67% premium to IPO priceLast week, Highway Infrastructure said it has received a letter of acceptance (LOA) from the National Highways Authority of India (NHAI) for operations at the Moti Naroli Fee Plaza in Gujarat. The LOA, issued on February 16, is valued at ₹154.6 crore.
The contract involves engagement of the user fee agency at Moti Naroli, Ena, and Gandevi fee plazas along the eight-lane Vadodara–Mumbai Expressway, covering multiple expressway sections.
The scope of the contract includes the upkeep and maintenance of adjacent toilet blocks and the recouping of consumable items. The order is awarded by a domestic entity, NHAI, and is to be executed within 90 days.
Shares of Highway Infrastructure Ltd ended at ₹55.55, down by ₹1.29, or 2.27%, on the BSE.
Also Read: Highway Infrastructure shares surge 7% after company bags ₹155 crore contract from NHAI
(Edited by : Jomy Jos Pullokaran)

