Kalpataru Projects International Completes Sale of Subsidiary Vindhyachal Expressway Private Limited for ~ Rs. 775 crores

Kalpataru Projects International Limited (KPIL) has successfully completed the sale of its 100% equity stake in its wholly owned subsidiary, Vindhyachal Expressway Private Limited (VEPL) to growth market sustainable infrastructure investor, Actis. The definitive agreement(s) were executed on October 9, 2024 to transfer the entire stake in VEPL to Actis, at an agreed Enterprise Value of ~ Rs. 775 crores (subject to necessary closing adjustments). VEPL is a Special Purpose Vehicle (SPV) and was formed to undertake four-laning road project spanning 89.30 KMs. The project is under concession from Madhya Pradesh Road Development Corporation (MPRDC) on Design, Build, Finance, Operate and Transfer (DBFOT) — Toll basis. The concession agreement between VEPL and MPRDC was executed in January 2012 and toll collections started on February 2015. This strategic divestment demonstrates KPIL’s track record in developing, operating and successfully divesting long-term infrastructure developmental assets.