HCC Concessions has concluded its transaction involving a 14.50% stake dilution to the Xander Group, a global investment firm focused on infrastructure, hospitality, retail and real estate sectors at a valuation of Rs 1650 crore. The company which designs, finances, builds and operates transport infrastructure, has raised Rs 240 crore to fully fund its existing projects and to further grow the portfolio in partnership with Xander.
HCC Concessions is a wholly owned subsidiary of HCC Infrastructure, a 100% subsidiary of Hindustan Construction Company. HCC Concessions is projecting a turnover of over Rs 500 crore by fiscal 2014, with a free cash flow Compound Annual Growth Rate (CAGR) of over 75% in the next 5 years. The company’s portfolio comprises of six National Highways Authority of India (NHAI) projects with IRRs of 17-25% over concession period that range from 18 to 30 tears.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3940.00 |
| Rail Vikas Nigam | 295.40 |
| NCC | 166.20 |
| KEC International | 581.65 |
| Kalpataru Projects | 1260.75 |
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