PNC Infratech shares jumped 9% to Rs 420.8 in Tuesday’s trade on BSE after the firm reported that it sold an equity stake in 12 road assets to Highways Infrastructure Trust (HIT), an infrastructure investment trust (InvIT) backed by private equity firm KKR.
PNC Infratech and PNC Infra Holdings, a wholly owned subsidiary of PNC Infratech had executed definitive agreements to sell equity stake in 12 road assets to Highways Infrastructure Trust for an enterprise value of Rs 9,005.7 crore. The road assets are in Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan.
