PNC Infratech Completes Rs 683 Crore Stake Sale in Road Project
Filing Summary
PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has completed the sale of its equity stake in PNC Challakere (Karnataka) Highways Private Limited to Vertis Infrastructure Trust. The transaction, concluded on March 27, 2026, was part of a strategic divestment initiative involving 12 road assets. The deal was finalized at an enterprise value of Rs 683 crore, including Rs 80 crore for equity and Rs 134 crore for unsecured loans. This marks the completion of PNC Infratech’s asset divestment under the definitive agreement with VIT.
On March 27, 2026, PNC Infratech Limited and its wholly owned subsidiary, PNC Infra Holdings Limited, finalized the sale of their equity stake in PNC Challakere (Karnataka) Highways Private Limited. The stake was sold to Vertis Infrastructure Trust (VIT), an Infrastructure Investment Trust sponsored by affiliates of KKR.
This transaction concludes the strategic divestment initiative announced in January 2024. Under this initiative, PNC Infratech entered into definitive agreements with VIT to divest a portfolio of 12 road assets. These assets include 11 National Highway Hybrid Annuity Mode (HAM) projects and one State Highway BOT (Toll) project, with a total aggregate length of approximately 3,800 lane-km across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.
The transaction for PNC Challakere (Karnataka) Highways Private Limited was completed at an Enterprise Value of Rs 683 crore. This amount includes Rs 80 crore received towards Equity and Rs 134 crore received towards Unsecured Loans on the date of completion.
With this sale, PNC Infratech has completed the divestment of all 12 assets under the definitive agreement with VIT. This transaction is part of the company’s asset monetization strategy, which involves unlocking value from its operational asset portfolio.
Vertis Infrastructure Trust is an Infrastructure Investment Trust that focuses on acquiring and managing infrastructure assets. It is sponsored by affiliates of KKR, a global investment firm.
PNC Infratech Limited is engaged in the development and management of infrastructure projects. The company focuses on executing projects in sectors such as highways, bridges, flyovers, and airport runways. PNC Infratech aims to enhance its financial capability for future investment opportunities through strategic asset monetization.