PNC Infratech Sells Stake in Ten Road SPVs to HIT

27 May 2025 CW Team

PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has completed the sale of equity stake in ten road assets to Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust sponsored by affiliates of KKR & Co Inc. The handover of these Special Purpose Vehicles (SPVs) took place on 21st and 22nd May 2025.

The divestment forms part of a transaction originally announced in January 2024, involving 12 road assets—11 national highway hybrid annuity mode (HAM) projects and one state highway BOT toll project. These assets cover approximately 3,800 lane-kilometres across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.

The ten HAM assets sold under Tranche I fetched an equity consideration of Rs 18.28 billion, post scope adjustments. Additionally, PNC will receive Rs 6.24 billion for change-of-scope works and Rs two billion in other receivables, not included in the equity consideration. The original equity invested in these assets was Rs 13.71 billion.

Sale of the remaining two assets is expected in the first half of FY26, subject to conditions precedent. The transaction aligns with PNC’s strategy to recycle capital and invest in new infrastructure opportunities.

Source:
Press release issued by PNC Infratech Limited

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..