PNC Infratech Limited announced the successful completion of the final tranche of its strategic divestment initiative on March 27, 2026. The company sold its entire equity stake in PNC Challakere (Karnataka) Highways Private Limited to Vertis Infrastructure Trust (VIT). The transaction concluded at an Enterprise Value of Rs. 683.84 crore, unlocking significant value from its operational assets.
Finalizing Strategic Divestment Initiative
PNC Infratech Limited (the Company), along with its wholly-owned subsidiary PNC Infra Holdings Limited, confirmed the successful completion of the sale of its equity stake in PNC Challakere (Karnataka) Highways Private Limited. This asset is a Hybrid Annuity Mode (HAM) road project, and the buyer is Vertis Infrastructure Trust (“VIT”), an Infrastructure Investment Trust sponsored by affiliates of KKR.
This transaction marks the conclusion of the larger strategic divestment initiative that began in January 2024. Under that initiative, the Company had agreed to divest a total portfolio of 12 road assets to VIT. This portfolio comprises 11 National Highway HAM projects and 1 State Highway BOT (Toll) project, covering an aggregate length of approximately 3,800 lane-km across multiple states including Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.
Transaction Value and Financial Impact
With the successful transfer of the Karnataka asset, PNC Infratech has now finalized the divestment of all 12 assets covered under the definitive agreement. The transaction for the Challakere project was concluded at an Enterprise Value totaling Rs. 683.84 crore. This value included Rs 80.48 crore received towards Equity and Rs 134.94 crore received towards Unsecured Loans on the closing date, March 27, 2026.
Management views the completion of this sale as a significant milestone in the Company’s asset monetization strategy. This action is expected to unlock value from its operational asset portfolio, strengthen the balance sheet, and enhance the company’s financial capability for future investment opportunities.
Source: BSE
