PNC-KKR Rs 90 Bn Deal: Approval for 8 Assets Received From NHAI

21 Jan 2025 CW Team

PNC Infratech, an infrastructure company, has received in-principle approval from the National Highways Authority of India (NHAI) to transfer its 100% stake in two subsidiaries (SPVs) managing the Bundelkhand and Khajuraho road projects to the KKR-backed Highways Infrastructure Trust (HIT). This development keeps the PNC-KKR deal on track for closure by March 31, 2025, as PNC Infratech works toward fulfilling the conditions precedents (CPs) required for the transaction. Key CPs include obtaining change-in-control approvals from highway authorities and no-objection certificates (NOCs) from project lenders, according to a person familiar with the matter. PNC Infratech has already secured change-in-control approvals from NHAI for eight of the assets, with approvals for the remaining two assets expected by January 2025. Additionally, the company has obtained NOCs from almost all lenders, the source added. The company aims to close the deal for 10 of the 12 assets by the end of the current financial year, representing approximately 85% of the total deal value. The transaction for the remaining two assets is expected to be completed by the first half of FY26, the source stated. This divestment aligns with PNC Infratech's strategic objective of recycling capital invested in operating road assets to support the Government of India’s ambitious growth vision for the infrastructure sector. On January 15, 2024, PNC Infratech Limited and its wholly-owned subsidiary, PNC Infra Holdings Limited, signed definitive agreements with the KKR-backed Highways Infrastructure Trust. The agreements involve the divestment of 12 road assets, including 11 National Highway (NH) Hybrid Annuity Model (HAM) assets and one State Highway BOT Toll asset, spanning approximately 3,800 lane kilometers across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan. The transaction, valued at an enterprise value of ?9,005.7 crore, is one of the largest acquisitions in India’s highways sector.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..