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HCC Concessions has concluded its transaction involving a 14.5 per cent stake dilution to global investment firm, the Xander Group, for Rs 240 crore. The company was valued at Rs 1,650 crore.
HCC Concessions is a 100 per cent subsidiary of HCC Infrastructure, a wholly-owned subsidiary of Hindustan Construction Company.
HCC Concessions designs, finances, builds and operates transport infrastructure.
Its portfolio comprises six NHAI projects with expected internal rate of return of 17-25 per cent over the concession period ranging from 18-30 years.
Mr Ajit Gulabchand, Chairman and Managing Director, HCC, said, “With the Government’s added impetus to the public-private-partnership model, we are glad to partner Xander to transform infrastructure more rapidly in India.”
Portfolio
HCC Concessions has a Rs 5,500-crore portfolio comprising the Nirmal (annuity) in Andhra Pradesh, the Delhi Faridabad Elevated Expressway, the Dhule-Maharashtra/MP Border on NH3 and three contiguous sections in West Bengal on NH34.
Of these, the Nirmal and the Delhi-Faridabad expressway are operational and Dhule is expected to be commissioned this year.
Mr Arjun Dhawan, Director, HCC Concessions Ltd, said, “The strength of our portfolio is a result of disciplined bidding, superior construction execution and strong fundamentals across the traffic corridors managed by the company.”
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