According to an exchange filing, Welspun Enterprises Ltd has sold all of its shares in five highways, along with 49 per cent of its stake in a toll asset, as part of a deal with Actis Highway Infra. The cash generated from the sale hasn't been specified, but the assets carry a Rs 5,853 crore enterprise value.
Welspun said that it hopes to divest the remaining 51 per cent stake in the toll asset by March 2024. The firm had inked a pact with Actis Highway Infra for 100 of its stake in six special purpose vehicles, for Rs 9,000 crore.
The six projects that Welspun has exited from, delivered Rs 653 crore to its consolidated turnover, 47 per cent of the total turnover, in 2021-22 (Apr-Mar). The deal, leaves the firm with two under-construction road projects worth Rs 3,900 crore.
