Kalpataru Projects International (KPIL) announced that it has successfully completed the sale of its 100% equity stake in its wholly owned subsidiary, Vindhyachal Expressway (VEPL) to growth market sustainable infrastructure investor, Actis. The definitive agreement(s) were executed on 09 October 2024 to transfer the entire stake in VEPL to Actis, at an agreed Enterprise Value of
Rs. 775 crore (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 connecting main city of Rewa and Hanumana on border of the states of Madhya Pradesh and Uttar Pradesh on the national highway section (NH)-7. 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.