Mumbai: Welspun Enterprises has sold six operational road projects to Actis Private Equity for an enterprise value of Rs 6,000 crore, including liabilities, as it seeks to focus on the most competitive parts of its business portfolio.
Including this deal, the Welspun Group, led by B K Goenka, has monetised assets worth Rs 19,000 crore in eight years. It is also evaluating the sale of its oil & gas business as part of its rejig strategy.
In the past, Welspun sold its renewables business to Tata Power for an enterprise value of Rs 9,500 crore, steel plate & sponge iron plants to JSW Steel for nearly Rs 2,000 crore, and a road project (Dewas-Bhopal corridor) to IDFC Alternatives for Rs 600 crore.
