PNC Infratech Limited has successfully completed the transfer of its entire stake in PNC Challakere (Karnataka) Highways Private Limited to Vertis Infrastructure Trust (VIT) for an enterprise value of Rs 683.84 crore. The transaction, which includes Rs 80.48 crore received towards equity and Rs 134.94 crore for unsecured loans, was finalised on 27th March 2026.
The transfer is part of a broader strategy by PNC Infratech to divest its interest in a total of twelve identified Special Purpose Vehicles (SPVs) as per the Share Purchase Agreement dated 15th January 2024. The SPVs have been transferred in accordance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
PNC Challakere (Karnataka) Highways Private Limited contributed ₹16,402.72 lakhs to the company’s consolidated revenue, representing 1.30% of the total, and had a net worth of ₹7,803.22 lakhs, accounting for 2.42% of the consolidated net worth as of 31st March 2025.
Vertis Infrastructure Trust, formerly known as Highways Infrastructure Trust, is an Infrastructure Investment Trust (InvIT) registered with SEBI. The trust is headquartered at Piramal Tower, Peninsula Corporate Park, Lower Parel, Mumbai. The transaction does not involve any related party transactions and was approved by the shareholders during the 25th Annual General Meeting held on 28th September 2024.
This strategic move marks a significant step in PNC Infratech’s efforts to streamline its operations and focus on core competencies by offloading non-core assets.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Kinjal and reviewed by Aman Shukla before publication.