Jaiprakash Associates Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015 read with Sub-para 2 of ParaB of Part A of Schedule III.'.
Awaiting price reaction for this filing.
Jaiprakash Associates has informed the exchanges that its wholly owned subsidiary, Himalyan Expressway Limited (HEL), signed a binding agreement on 3rd July 2025 to transfer all remaining rights and obligations of its BOT highway concession to Cloudneo Highways Private Limited, with NHAI and ICICI Bank as the other parties. The project covers the Zirakpur to Parwanoo section of NH-22 (Km 39.860 to Km 67.000) spanning Punjab, Haryana, and Himachal Pradesh. HEL has been incurring continued losses from operating the concession, which is the reason given for the transfer. HEL contributed Rs. 6,270 lakhs (1.02%) to JAL's consolidated turnover but has a deeply negative net worth of Rs. 47,108 lakhs (4.41% of consolidated net worth) as of FY25.
This appears to be a step by JAL to exit a loss-making, debt-heavy subsidiary, which could help clean up its balance sheet. However, the negative net worth and continued losses at HEL suggest a distressed exit rather than a strategic divestment, so shareholders should monitor the financial impact of the transfer in coming quarters.