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KNR Constructions has entered into share purchase agreements with Indus Infra Trust to sell its 100 per cent shareholding, along with sub-debt, in four highway SPVs. The company plans to invest INR 566.83 crore in equity and sub-debt and expects to receive INR 1,543.19 crore from the transaction. The SPAs cover four project entities operating highway assets. The divestment is subject to approvals from authorities and lenders and is expected to be completed by September 30, 2026.
KNR Constructions has executed share purchase agreements with Indus Infra Trust for the proposed sale of its entire stake, including sub-debt, in four highway special purpose vehicles. The decision forms part of the company's asset monetisation strategy in the roads and highways segment. Advertisement
In a regulatory filing made in the past week, the company said it is expected to invest a total of INR 566.83 crore in the form of equity and sub-debt in these SPVs. Against this investment, KNR Constructions is set to receive an aggregate consideration of INR 1,543.19 crore from the transaction.
The agreements were signed earlier this week for four project entities KNR Palani Infra Private Limited, KNR Ramagiri Infra Private Limited, KNR Guruvayur Infra Private Limited and KNR Ramanattukara Infra Private Limited. These entities operate highway projects developed under concession arrangements, which typically require approvals from multiple stakeholders before any ownership change.
The company clarified that the divestment will be carried out only after securing approvals from the relevant authorities and lenders, in line with the terms of the concession agreements governing the projects. KNR Constructions has indicated that the transaction is expected to be completed on or before September 30, 2026.
KNR Constructions has historically followed a build-operate-transfer and asset recycling approach in its road portfolio, where mature assets are divested to release capital. Indus Infra Trust, an infrastructure investment trust, focuses on acquiring operational road assets to provide stable long-term returns to its unitholders.
Source PTI
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