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PNC Infratech gains on executing SPA to sell 35% stake in Ghaziabad Aligarh Expressway

08 May 2019 Evaluate

PNC Infratech is currently trading at Rs. 156.15, up by 0.40 points or 0.26% from its previous closing of Rs. 155.75 on the BSE.

The scrip opened at Rs. 158.90 and has touched a high and low of Rs. 159.95 and Rs. 156.00 respectively. So far 2488 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 184.50 on 31-May-2018 and a 52 week low of Rs. 122.70 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 159.95 and Rs. 148.00 respectively. The current market cap of the company is Rs. 4005.86 crore.

The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 28.28% and 15.65% respectively.

PNC Infratech has executed a Share Purchase Agreement (SPA) for sale of 35% stake held by the Company along with its wholly owned subsidiary - PNC Infra Holdings in Ghaziabad Aligarh Expressway, the Concessionaire (SPV) for ‘Four Laning of Ghaziabad - Aligarh Section of NH-91 BOT (Toll) Project in Uttar Pradesh along with the other partners of SPV, with Cube Highways and Infrastructure Pte.

Total Enterprise Value (EV) of the sale is Rs 18.34 billion subject to adjustments of debt and other capital and operational costs at the Closing Date. The Company’s share of 35% equity translates to sale consideration of Rs 2.7 billion. In addition to this the Company would be able to recover its outstanding EPC receivables from SPV along with certain Closing adjustments, which would likely to result into total cash inflow of over Rs 3.0 billion for the Company.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.


PNC Infratech Share Price

203.55 1.70 (0.84%)
17-Apr-2026 16:59 View Price Chart
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