Joint Ventures30 March 2026 at 04:31 pm
H.G. Infra Engineering Ltd Transfers 49% Stake in Subsidiary to Neo Infra Income Opportunities Fund
AI Summary
H.G. Infra Engineering Ltd has transferred 49% of its stake held in H.G. Khammam Devarapalle PKG-1 Private Limited, a Wholly Owned Subsidiary, to Neo Infra Income Opportunities Fund. The remaining 51% stake will be transferred according to the terms and conditions of the transaction documents. This transfer results in the subsidiary ceasing to be a Wholly Owned Subsidiary, but it continues to be a subsidiary of the Company.
Key Highlights
- Transfer of 49% stake in H.G. Khammam Devarapalle PKG-1 Private Limited to Neo Infra Income Opportunities Fund
- Remaining 51% stake to be transferred according to transaction documents
- H.G. Khammam Devarapalle PKG-1 Private Limited ceases to be Wholly Owned Subsidiary, but continues to be a subsidiary of the Company
- Total consideration for the sale of SPV ₹ 233.77 crore
- First tranche of ₹ 81.69 Cr received, second tranche to be received by 30th June, 2026