Kalpataru Projects International Limited (KPIL) announced that the sale of its 100% stake in Vindhyachal Expressway Private Limited is at an advanced stage. Approvals are complete, and closing is expected before January 31, 2026. The deal, initially announced on October 9, 2024, involves selling the stake to Actis Atlantic Holdings Limited. The transaction is progressing as conditions precedent are met.
Vindhyachal Expressway Stake Divestment
Kalpataru Projects International Limited (KPIL) is moving forward with the sale of its entire 100% stake in Vindhyachal Expressway Private Limited, a wholly-owned subsidiary.
Transaction Progress and Timeline
The company stated that all necessary approvals in compliance with the conditions precedent for the transaction are now complete. The transaction is currently at an advanced stage of closing and is expected to be completed before January 31, 2026, which is defined as the “Long Stop Date”.
Initial Agreement Details
The initial definitive agreement(s) for the sale to Actis Atlantic Holdings Limited was entered into on October 9, 2024. The completion was originally anticipated within 15 months from the date of the agreement, but has been subject to extensions as required to complete closing.
Buyer Information
The buyer for this transaction is Actis Atlantic Holdings Limited.
Previous Intimation
KPIL had previously intimated about this sale on October 9, 2024.
Source: BSE
