Welspun completes sale of six road assets to Actis for Rs 6,025 crore

Welspun Enterprises, an infrastructure and highway firm, on Friday completed the sale of six of its operational road assets to sustainable infra investor Actis Highway Infrastructure at an enterprise value of Rs 6,025 crore. The two sides had signed an agreement six months ago.

The projects comprise five Hybrid Annuity Mode (HAM) assets—Welspun Delhi Meerut Expressway Private Limited, Welspun Road Infra, MBL (CGRG) Road, MBL (GSY) Road, and Chikhali Tarsod Highways) —and one Build-Operate-Transfer (BOT) toll asset called Welspun Infrafacility.

Welspun exited 49 per cent of the BOT toll road and the remaining 51 per cent will require clearances expected to be completed by March 2024, it said in an exchange filing.

Welspun’s statement said that while the enterprise value of the assets is Rs 5,853 crore, it excludes over Rs 3,200 crore of milestone-linked payments and grants from NHAI and Public Works Department of the Maharashtra government. This makes the total highway portfolio worth Rs 9,049 crore.