Deal Highlights:

• HCC Group sold 100% stake in Baharampore Farakka Highways Ltd (BFHL) to Cube Highways and Infrastructure V Pte. Ltd. (Cube Highways) for an enterprise value of INR 13,230 m
• Apart from the equity valuation of INR 6,770 m, HCC is entitled to an additional earnout of maximum INR 2,640 m contingent on traffic performance, payable by Q3 FY’24 and Q1 FY’25 in 2 tranches
• We assisted HCC in closing the transaction through effective deal structuring and negotiations to ensure value maximization

About HCC Concessions Ltd.:

• HCC Concessions Ltd., a subsidiary of HCC Limited, is a leading developer in transport infrastructure concessions
• BFHL is a subsidiary of HCC Concessions which operates a DBFOT Toll project between Baharampore and Farakka section of NH 12 in the State of West Bengal
• The 101 km highway connects Kolkata and port of Haldia to North Bengal and North Eastern states of India