PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has successfully completed the sale of its equity stake in PNC Bareilly Nainital Highways Private Limited, a BOT (Toll) Road Project, to Vertis Infrastructure Trust (VIT)—an InvIT sponsored by affiliates of KKR & Co. Inc.
This marks the conclusion of the second tranche of a strategic divestment plan initiated in January 2024, involving 12 road assets across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan. The first tranche, completed on May 22, 2025, included the sale of 10 NH HAM assets. With this latest transaction, 11 out of 12 assets have now been divested.
The deal was closed at an Enterprise Value of Rs716.2 crore, including Rs153.48 crore received against equity and debentures, and Rs239.35 crore against unsecured loans. An additional Rs80 crore in receivables is expected from VIT as per the definitive agreement.
The final asset in the portfolio—PNC Challakere Karnataka Highways Private Limited—is slated for divestment in H1 FY26, pending fulfillment of remaining conditions.
This strategic move aligns with PNC’s capital recycling goals, enabling reinvestment into new infrastructure opportunities while streamlining its asset portfolio.
