PNC Infratech Completes Sale of BOT Road Project to Vertis Infrastructure Trust
The transaction involves a substantial enterprise value and is part of a larger strategic divestment of 12 road assets, significantly impacting the company's asset base, liquidity, and future business strategy.
The company successfully completed a significant asset divestment, generating substantial cash and advancing its strategic plan to monetize road assets. This indicates successful execution and improved financial flexibility.
PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has announced the successful completion of the sale of its equity stake in PNC Bareilly Nainital Highways Private Limited, a BOT (Toll) Road Project. * The buyer is Vertis Infrastructure Trust (VIT), an Infrastructure Investment Trust sponsored by affiliates of KKR & Co. Inc. * This transaction marks the conclusion of the second tranche of a strategic divestment initiative announced in January 2024, which involves divesting a portfolio of 12 road assets. * The first tranche, involving the sale of equity stakes in 10 NH HAM assets, was completed on May 22, 2025. * With the successful transfer of PNC Bareilly Nainital Highways Private Limited, the Company has now completed the sale of 11 out of the 12 assets under the definitive agreement. * The transaction was concluded at an Enterprise Value of ₹716.2 crore. * This includes ₹153.48 crore received against equity and debentures, and ₹239.35 crore against Unsecured Loans, received on July 31 and August 1, 2025. * Additionally, the Company expects to receive approximately ₹80 crore in other receivables from the buyer (VIT) as stipulated in the agreement. * The 12th and final asset/SPV, PNC Challakere Karnataka Highways Private Limited (HAM Project), is expected to be divested in H1 FY26 upon fulfillment of remaining conditions precedent.
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