PNC Infratech Limited has announced the incorporation of a new wholly owned subsidiary, ‘Barabanki Mustafabad Highway Private Limited’. This Special Purpose Vehicle (SPV) was established on June 21, 2026, to implement a significant highway project awarded by the National Highways Authority of India (NHAI). The subsidiary has an authorized capital of ₹15,00,000 and a paid-up capital of ₹10,00,000. The company is yet to commence business operations.
Subsidiary Formation for NHAI Project
PNC Infratech Limited has successfully incorporated a new wholly owned subsidiary named ‘Barabanki Mustafabad Highway Private Limited’. This entity has been established as a Special Purpose Vehicle (SPV) with the official Certificate of Incorporation dated June 21, 2026. The incorporation follows earlier announcements made on April 21, 2026, and May 22, 2026, highlighting the company’s strategic move to manage a key infrastructure development.
Project Details and Subsidiary Capitalization
The newly formed subsidiary is tasked with implementing a highway project awarded by the National Highways Authority of India (NHAI). Specifically, the project involves the “Construction of 4 Lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 (Existing Chainage Km 0.000 to Chainage Km 43.700) on the section of NH-927 in Uttar Pradesh on HAM Mode under NH (O) Scheme (Package-I).”
Barabanki Mustafabad Highway Private Limited has an authorized capital of ₹15,00,000, divided into 1,50,000 equity shares of ₹10 each. The subscribed and paid-up capital currently stands at ₹10,00,000, comprising 1,00,000 equity shares of ₹10 each. The company is yet to commence its business operations, and its turnover is not applicable at this stage.
Acquisition and Ownership Structure
The incorporation signifies a 100% ownership stake by PNC Infratech Limited, acting as a wholly owned subsidiary and SPV. The acquisition falls under ‘cash consideration’. The shares of Barabanki Mustafabad Highway Private Limited were subscribed at face value, with an initial investment totaling ₹10,00,000. This transaction is not considered a related party transaction, and the promoter/promoter group/group companies have no interest in the entity being acquired, ensuring the process is conducted at an ‘arm’s length’.
Governmental Approvals and Timeline
No specific governmental or regulatory approvals are deemed necessary for this acquisition, and the indicative time period for completion is not applicable. The entity operates within the ‘Infrastructure’ industry. The incorporation date of the subsidiary is June 17, 2026, marking a significant step in PNC Infratech’s expansion and project execution capabilities.
Source: BSE
