PNC Infratech Limited has announced that its wholly-owned subsidiary, PNC Chitradurga Highways Private Limited, has received in-principle approval from the National Highways Authority of India (NHAI) for the proposed divestment of its interests in the entity.
This development follows PNC Infratech’s earlier notifications dated January 15, 2024, September 28, 2024, November 20, 2024, and December 14, 2024, regarding the sale or disposal of assets/undertakings by PNC Infra Holdings Ltd., a 100% subsidiary of the company.
The divestment, subject to statutory and regulatory approvals, involves the transfer of assets to the Highways Infrastructure Trust (InvIT). This step aligns with PNC Infratech’s strategic focus on optimizing its portfolio and aligning with the InvIT framework.
The announcement complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
