Kalpataru Projects International Limited (KPIL) has successfully completed the sale of its entire 100% equity stake in its wholly owned subsidiary, Vindhyachal Expressway Private Limited (VEPL), to Actis, a growth market sustainable infrastructure investor. The definitive agreement for this transaction was executed on October 9, 2024, with an agreed Enterprise Value of approximately ₹775 crore, subject to necessary closing adjustments.

VEPL, a Special Purpose Vehicle (SPV), was established to undertake a four-laning road project spanning 89.30 KMs. This project connects the cities of Rewa and Hanumana, situated on the national highway section (NH)-7, bridging Madhya Pradesh and Uttar Pradesh. The project operates on a Design, Build, Finance, Operate and Transfer (DBFOT) – Toll basis, under a concession agreement with Madhya Pradesh Road Development Corporation (MPRDC) that was executed in January 2012, with toll collections commencing in February 2015.

Manish Mohnot, MD & CEO of KPIL, stated that this divestment is a landmark event and aligns with KPIL's strategy of optimizing value by disposing of non-core assets. He highlighted that this, along with the previous sale of four transmission assets, demonstrates KPIL's capability in developing, operating, and divesting long-term infrastructure assets. The company plans to continue investing in its core EPC business to accelerate growth and achieve targeted returns.

Equirus Capital Private Limited served as the Transaction Advisor, and Khaitan & Co provided Legal Advisory services to KPIL for this deal. Anangram Partners acted as the Legal Advisor to Actis.