H.G. Infra Engineering Limited has informed the Exchange about General Updates
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H.G. Infra Engineering's board has approved selling 100% stake in five of its wholly owned road project subsidiaries (SPVs) to Neo Infra Income Opportunities Fund, a Category II Alternative Investment Fund. The combined enterprise value of the deal is approximately INR 3,584 crore. These five SPVs together contributed about 32.7% of the company's consolidated revenue (around INR 1,650 crore) and roughly 11% of consolidated net worth in FY25. The buyer is unrelated to the promoters and the deal is not a related party transaction. A binding offer document has been signed on August 13, 2025, and the share purchase agreement is expected shortly, with completion targeted within the next 12 months, subject to regulatory and third-party approvals.
This is a significant asset sale for shareholders — roughly one-third of revenue-generating SPVs are being monetized, which should bring in substantial cash (around INR 3,584 crore in enterprise value) and could shift the company toward an asset-light model. The stock may react positively on the cash inflow, but investors should note the loss of future revenue from these SPVs post-completion.