KKR's InvIT Highways Infra Trust Secures Rs 82.50 Bn Debt from Top Banks

20 Feb 2025 CW Team

Highways Infrastructure Trust (HIT), an infrastructure investment trust sponsored by private equity firm KKR, has secured debt financing of Rs 82.50 billion from a consortium of private sector and public sector lenders. The participating financial institutions include Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, State Bank of India, Punjab National Bank, and India Infrastructure Finance Company Limited (IIFCL).

This funding represents one of the largest debt arrangements secured by an infrastructure investment trust (InvIT) in India. Structured as a Rupee Term Loan, the financing has a tenure of up to 17 years. The funds will be utilized for acquiring TOT Bundle 16 from the National Highways Authority of India (NHAI) and a portfolio of 12 road assets from PNC Infratech.

The agreement between KKR and PNC, announced in January 2024, is valued at approximately Rs 90 billion, making it one of the most significant transactions in India's road sector. The acquired portfolio consists of 11 hybrid annuity model (HAM) roads from NHAI and one toll road from the Uttar Pradesh State Highways Authority, covering approximately 3,800 lane kilometre across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka.

Additionally, HIT is in the process of acquiring NHAI’s toll-operate-transfer (TOT) Bundle 16 for Rs 66.61 billion. This bundle includes a 251-km stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana.

To support these acquisitions, HIT’s sponsor, KKR, along with its second-largest shareholder, the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), will invest up to Rs 55 billion in equity. Currently, HIT manages assets worth Rs 170 billion, covering 16 project stretches and a total of 4,640 lane kilometre across nine states.

News source: Money Control

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..