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Reliance Infrastructure has finalised the monetisation of its Pune-Satara Toll Road project by transferring full ownership of PS Toll Road Pvt Ltd to Singapore-based Cube Highways and Infrastructure III. The agreement is valued at an enterprise value of around INR 2,000 crore. Reliance Infra will receive equity proceeds of INR 600 crore and reduce consolidated debt by INR 1,400 crore through the transaction. The move is in line with the company's strategy to unlock value from non-core assets, maintain financial discipline, and focus on its long-term business areas.
Reliance Infrastructure has entered into an agreement to monetise its Pune-Satara Toll Road project through the sale of its entire stake in PS Toll Road Pvt Ltd to Cube Highways and Infrastructure III, a Singapore-based platform specialising in road and highway assets. The deal is valued at an enterprise value of about INR 2,000 crore. Advertisement
The company is expected to realise equity proceeds of nearly INR 600 crore from this transaction. In addition, Reliance Infra's consolidated borrowings are set to reduce by around INR 1,400 crore. This step is seen as a continuation of the company's plan to improve financial flexibility by exiting non-core assets while focusing resources on priority business segments. On a standalone basis, Reliance Infrastructure continues to hold a debt-free position, underlining its focus on a balanced capital structure.
PS Toll Road Pvt Ltd was set up to develop and operate a six-lane expressway between Pune and Satara, covering a stretch of about 140 kilometres on NH-48. The project, part of the Golden Quadrilateral corridor, plays a crucial role in linking Mumbai and Bengaluru. Toll collection for this highway began in 2010 under the build-operate-transfer model.
The completion of this deal is subject to regulatory approvals and is expected by the end of this month. This marks the second toll road asset that Reliance Infra has sold to Cube Highways. In 2020, it had transferred the Delhi-Agra Toll Road to the same investor in a transaction valued at INR 3,600 crore.
Reliance Infrastructure currently operates seven toll road assets across the country, with a total network of around 2,468 lane kilometres. These projects are located on high-traffic corridors and contribute to regional connectivity, freight movement, and passenger travel under public-private partnership arrangements.
Source PTI
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