PNC Infratech has received in-principle approval from NHAI to transfer its 100 percent stake in two subsidiaries managing Bundelkhand and Khajuraho road projects to the KKR-backed Highways Infrastructure Trust (HIT).
The PNC-KKR deal is expected to close by 31 March, 2025, with key conditions including change-in-control approvals and NOCs from project lenders. PNC Infratech has secured approvals for eight assets, with the remaining two expected by January 2025. The company plans to close 85 percent of the deal value for 10 assets by the end of FY25, with the remaining two assets expected in the first half of FY26.
This divestment supports PNC’s strategy to recycle capital and align with India’s infrastructure growth vision.